our partners

David Bagley

Dave was formerly a Principal with the middle market management-consulting firm MorrisAnderson. He has over 20 years of experience in financial and operational restructuring, turnaround and profit improvement consulting. Dave has been recognized nationally for his work and won recognition from the Turnaround Management Association for Turnaround of the Year.

He has managed or consulted for a variety of multi-unit companies throughout his career including Popeye’s, Santa Fe Cattle Company, The Clubhouse, Restaurants America, Bar Louie, Granite City Food & Brewery, Sonic Drive-Ins, Lee’s Famous Recipe Chicken and Giordano’s Pizza. Through his career Dave has served as CFO, COO and CEO for various clients as part of engagements.

Dave’s work at Carrac is focused on identification of opportunities, creation of strategic plans and investment propositions and the oversight and management of operations.

  • Operations management
  • Restructuring
  • Profit improvement
  • Strategic planning
  • Implementation
  • Business development

Experience

  • Sourced over $5 million in short-term financing as CFO of a $110 million national restaurant chain, facilitating the build-out of 25 locations over 18 months, which generated an 87% year-over-year increase in revenue
  • Restructured over $70 million of debt over a ten month period, for a 92 unit major franchisee of a national restaurant company, realizing $3.5 million of annual debt payment reductions
  • Managed the divestiture process of a 27 unit regional restaurant operating company as CEO of the firm. Directed the marketing of the firm and negotiated the terms of the transaction

Education & Personal

  • Dave earned a Master’s degree in Business Administration from the J. L. Kellogg Graduate School of Management at Northwestern University and a Bachelor’s degree from DePauw University in Greencastle, Indiana
  • He is a member of the Turnaround Management Association (TMA) and a Certified Turnaround Professional (CTP)
  • Dave won regional and national turnaround awards for his efforts from the Turnaround Management Association
Direct: 312-600-5971
Mobile: 630-248-4145

Matt Darin

Matt is one of the Founding Principals of Frontline Real Estate Partners, LLC.  Frontline is a real estate investment and advisory company with expertise in the acquisition, management, disposition, and leasing of commercial real estate properties throughout the United States.  Founded in 2010, Frontline invests in value-add properties and provides transactional and advisory services to banks, financial institutions, and owners, with a focus on the real estate restructuring industry.

Matt has over 12 years of experience in acquisitions, dispositions, and financing of commercial real estate. Prior to forming Frontline, Matt co-led the acquisitions group at Hilco Real Estate, acquiring in excess of $100 million of commercial properties including sale-leasebacks, vacant properties, and redevelopment opportunities.

Since the inception of Frontline, the company has been actively involved in the franchise industry as both principals and advisors.  The company has acquired, leased or sold properties to major franchise companies including; McDonald’s, Dunkin’ Donuts, White Castle, Buffalo Wild Wings, Panda Express, Jimmy John’s, Domino’s Pizza, Subway, and Olive Garden. Matt also has served as advisor to franchisees in restructuring situations including a 25-unit Popeye’s franchisee in Louisiana and a 13-unit Ruby Tuesday franchisee in Illinois.

Matt’s work at Carrac is focused on developing strategic alternatives for financing real estate assets as well as managing property acquisitions and lease negotiations.

Experience

  • Prior to forming Frontline Real Estate Partners, Matt was a Vice President with Hilco Real Estate.  Matt was responsible for sourcing and executing acquisition opportunities, deal making, financial analysis and underwriting, market due diligence, and financing.
  • Prior to joining Hilco Real Estate, Matt worked at PricewaterhouseCoopers LLP in the Assurance & Business Advisory Services practice focusing on real estate and financial services clients.

Education & Personal

  • Matt holds a Bachelor of Science with honors in Accounting and a Bachelor of Science with honors in Business Administration – Management Information Systems from the University of Illinois, Urbana-Champaign.
  • Matt is a Certified Public Accountant and a licensed Real Estate Salesperson in the State of Illinois.
  • Matt is a member of the International Council of Shopping Centers (ICSC), Turnaround Management Association (TMA), and American Bankruptcy Institute (ABI).
Direct: 847-770-6264
Mobile: 312-952-9862

Mike Elliott

Mike co-founded Peak Franchise Capital and serves as the Managing Partner for the boutique restaurant industry focused advisory and consulting firm headquartered in Dallas, Texas. He has over 25 years experience in the advisory and transaction investment banking business in the restaurant and franchise industry.

Mike has worked with franchisors and franchisees bringing an understanding to needs and demands of both types of companies.  His work with YUM! Brands and Burger King Corp included over $1billion of transactions, including leading the refranchising program at Pizza Hut and the business development team at BKC.  Mike has also worked with numerous franchisees in a variety of franchise systems (Sonic Drive-In, Popeyes, Taco Bell, Uno’s Chicago Grill) in acquisitions, divestitures, financings and restructurings.

Mike’s work at Carrac is primarily in the areas of identification of strategic acquisitions, structuring of transactions and development of appropriate capital structures.

Experience

  • Mike developed and led a Franchise Assistance team working with Quiznos franchisees across the country. Additionally, Mike led efforts to create a Third Party Development program working with and managed Quiznos Area Developers
  • Mike was the Managing Director leading Burger King Corporation’s franchise restructuring program and business development teams working closely with Burger King’s private equity investors, Texas Pacific Group, Bain Capital and Goldman Sachs
  • He served as Senior Director of Finance for YUM! Brands, Inc. and Pizza Hut, Inc. where he was responsible for domestic merger and acquisition activities and managed the Pizza Hut franchise finance functions
  • Previously, he worked in various positions including serving as the Chief Financial Officer of Network Multi-Family Security Corp. and as the Corporate Controller of PSI Holding, Inc., the U.S. holding company for a Swiss-based service conglomerate
  • Additionally, Mike worked in the real estate industry and began his career in commercial banking

Education & Personal

  • Mike received his BBA degree in Accounting from Northeast Louisiana University and earned his CPA
  • Mike is a member of the Turnaround Management Association
Direct: 972-719-5690
Mobile: 972-523-8344

Alex Blanton

Alex co-founded Peak Franchise Capital and serves as a Managing Director for the boutique restaurant industry focused advisory and consulting firm. He has over 15 years experience in the restaurant and franchise industry, advising clients on a variety of transactions, financings, restructurings and capital raises.

Alex has worked with major brands, such as Burger King, Wendy’s, Church’s, Sonic along with smaller operating companies like Snappy Salads, Ethel M’s Chocolates, The Dinner Station.  His work has included all aspects of transactions, including advisory work on the buy-side, sell-side, restructuring, bankruptcy, refinancing and strategic planning.

Alex’s focus in his work at Carrac is the identification of strategic alliances and acquisition targets, the development of acquisition strategies and the evaluation and creation of transaction alternatives.

Experience

  • Alex served as a Manager in Burger King Corporation’s franchise restructuring program where he led the successful financial restructuring of financially distressed franchisees
  • He served as a Senior Financial Analyst in Pizza Hut’s mergers and acquisition departments where he was responsible for the department’s financial models and analysis on numerous transactions
  • Previously, he worked in the energy industry in a variety of roles in audit, acquisition and divestitures, and commodity trading

Education & Personal

  • Alex received a BBA degree in finance and management from Texas Christian University and holds an MBA from the University of Texas
Direct: 972-719-5692
Mobile: 214-476-6076

Mitch Kahn

Mitch is one of the Founding Principals of Frontline Real Estate Partners, LLC and was formerly the CEO of Hilco Real Estate, which he similarly founded.  He has over 25 years of experience in real estate acquisitions, development, and advisory, with specialized expertise in restructurings, portfolio management and capital sourcing for transactions.

Mitch has managed development and acquisitions for a variety of retail, commercial and industrial clients across a diversity of industries.  Since 2010, Frontline has acquired more than $70,000,000 of commercial properties including shopping centers, restaurants, industrial properties, and other commercial properties.

During his career Mitch has worked as both a principal and advisor to many of the country’s largest restaurant companies including Lone Star Steakhouses, Vicorp Restaurants, Uno Chicago Grill, McDonald’s / Boston Market, Schlotsky’s, Hardee’s, and Wendy’s.

Mitch’s work at Carrac is focused on the identification, evaluation, and financing of acquisitions including companies and real estate.

Experience

  • Prior to forming Frontline Real Estate Partners, Mitch founded and served as CEO of Hilco Real Estate.  Under his leadership, Hilco Real Estate became a leading real estate restructuring firms involved in some of the country’s largest and most high profile restructurings.
  • Prior to joining Hilco Real Estate, Mitch was Senior Vice President of Sportmart, directing all real estate activities including site selection, national rollout strategy, deal-making and lease negotiations for all Sportmart locations;

Education & Personal

  • Mitch is a CPA, as well as an attorney who has formerly practiced real estate law and developed numerous retail shopping centers.
  • Mitch is a graduate of the University of Wisconsin, School of Business and Northwestern University, School of Law.
  • His professional memberships include the Illinois Bar Association, the International Council of Shopping Centers, the Urban Land Institute, the Turnaround Management Association and the American Bankruptcy Institute.
Direct: 847-897-5123
Mobile: 847-867-3003

Josh Joseph

Josh is one of the founders of Frontline Real Estate Partners, LLC.  Josh is responsible for sourcing acquisition and advisory opportunities deal making, and managing Frontline’s team of real estate brokers.   Prior to forming Frontline, Josh spent over eight years with Hilco Real Estate as a Principal and Senior Vice President and five years with Mid-America Real Estate.  During his tenure at Hilco, his primary responsibilities included spearheading Hilco’s principal acquisitions and dispositions businesses.

Josh has consummated real estate transactions, both as a principal and an advisor, in over 40 states within the United States. He has disposed of over $700,000,000 of real estate as an advisor and consultant and has acquired in excess of $150,000,000 of real estate as a principal during his career. He has acquired and disposed of retail (shopping centers, restaurants, health and fitness centers, gas stations and convenience stores, and drug stores), industrial (manufacturing, distribution, and self-storage facilities), office, undeveloped land (both commercial and residential), telecommunications sites (data centers, telecommunication office centers, and antenna sites), dialysis clinics, corporate campuses, and multi-family developments.

Josh’s work at Carrac is focused on the identification, evaluation, and financing of acquisitions including companies and real estate.

Experience

  • Prior to forming Frontline Real Estate Partners, Josh served as Principal and Senior Vice President of Hilco Real Estate where he led the company’s acquisitions and dispositions groups.
  • Prior to joining Hilco Real Estate, Josh worked at Mid-America Real Estate Corporation where he specialized in the disposition and acquisition of retail properties throughout the Midwest.

Education & Personal

  • Josh is a graduate of the University of Illinois with a Bachelors Degree in English and French Literature.
  • He is a licensed Real Estate Broker in the State of Illinois as well as a member of the International Council of Shopping Centers.
Direct: 847-770-6262
Mobile: 847-212-5842