Publication- May 2020
German family office acquires Panera Bread in Chicago suburb
A German family office represented by International Capital bought a Panera Bread restaurant with a 15-year lease.The newly built property is located in Homewood, Illinois, approx. 40 minutes south of downtown Chicago. The freestanding property is located next to a new Chick-fil-A on a busy thoroughfare in the middle of Homewood’s main retail corridor.
JAB purchased Panera Bread in 2017 for $7.5 billion. The Luxembourg-based company, the investment vehicle of Germany’s billionaire Reimann family, has snapped up several U.S.-based breakfast and coffee companies in recent years, including Krispy Kreme Doughnuts and K-cup coffee pod-maker and Keurig Green Mountain.
This was the fourth purchase of US real estate by the German IC customer in the past 10 years. The purchase was made in cash without outside financing.
Martina Crevecoeur, CCIM, Senior Vice President of Acquisitions / Dispositions of International Capital LLC, represented the investor in the transaction.
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