Marquis was experiencing $11 million in gross revenues and EBITDAR of $950,000, yielding an operating margin and quality mix of 8.6% and 44.1, respectively.  Lease payment to the landlord was $540,000.  Chris approached eight prospective tenants and generated five offers on the offering.  Because Marquis only had until September 30, 2016, without any extensions, a new owner/operator would be able to negotiate a new lease with Marquis or another tenant.  Marquis did not want to lose the deal and the offers on the table were higher than they expected.  Rather than them jeopardizing their position as operator, Chris was able to recast their lease at $750,000 with the current ‘landlord’ staying in place.

Plum Ridge was a referral from HHC.  Supporting Chris on this transaction was Kayla Kuhn and Ryan Chase.  Special thanks to Kayla for schlepping up to Klamath Falls on a prop plane with only one flight in and out of the town a day.