Sun Ray Grill Purchases Cotton Mill Location With Help From BizCapital Lending Fund

Restaurant Group Makes Long-Term Commitment to City's Warehouse District

Feb 08, 2007, 00:00 ET from Advantage Capital Partners

    NEW ORLEANS, Feb. 8 /PRNewswire/ -- Sun Ray Grill, LLC, a locally owned and operated restaurant group with four restaurants across the New Orleans metropolitan area, has recently acquired the space it rented for five years in the historic Cotton Mill Apartments building. The purchase was made possible thanks to $575,000 in financing from BizCapital, the small business lending arm of Advantage Capital Partners, a local venture capital and private equity firm.     The Sun Ray Grill restaurant group is owned and operated primarily by Dana and Julia Deutsch, a husband and wife team who have been in the restaurant business for more than a decade. Dana Deutsch has a wide and varied restaurant background including two years at the Windsor Court Hotel's Grill Room and one year at the Little Nell hotel in Aspen, Colorado. He is the executive chef of Sun Ray Grill, designing and teaching his menu in all the restaurants. Julia Deutsch coordinates the financial operations of the Sun Ray restaurants. She also manages finances for other local restaurants through her management company, Mango Management.     "As New Orleans natives and business owners, we are committed to helping rebuild the city that has supported us for so long," said Julia Deutsch, co-owner of the Sun Ray Grill. "Our investment in the Cotton Mill Apartment building solidifies our long-term commitment to the Warehouse District and allows us to continue providing our customers with a great dining experience in a fun, family-friendly atmosphere."     Dana Deutsch opened his first Sun Ray Grill in the Meadowcrest Hospital building in 1996 and in 1999, opened his second location in Metairie. In 2001, the Deutsches, along with investor and managing partner Christian Olsen, opened the third Sun Ray Grill, in the Warehouse District of New Orleans. The fourth location, The Sun Ray Grill Mid City, opened in 2004 and is owned by the Deutsches and two other investors. The Mid City location was significantly damaged by Hurricane Katrina and re-opened for business in March 2006.     "The Deutsches have a proven track record of developing and operating innovative and profitable restaurants that cater to the New Orleans communities in which they operate," said John M. Brocato, president of BizCapital. "Purchasing the Sun Ray Grill space in the Cotton Mill Apartment building will enable the restaurant to grow its customer base and achieve further success in the months and years to come."     BizCapital is providing financing for Sun Ray Grill, LLC, through a small business lending fund established to provide financing for entrepreneurs in communities that qualify under the U.S. Treasury's New Markets Tax Credits Program. BizCapital's parent firm, Advantage Capital Partners, already has raised more than $110 million through the New Markets program. To qualify for investment from the fund, a company must fit the SBA definition of a small business for its particular industry and be located within a low-income census tract. Loans can range from $250,000 to $2 million for capital to build, rebuild or expand operations and facilities.     The Sun Ray Grill markets itself as a family friendly restaurant serving cuisine and cocktails influenced by sun-drenched destinations such as the California coast, the Caribbean, the Mediterranean and the Pacific Rim. The focus is on light cooking, fresh salads, grilled meats and fresh seafood flown in from Hawaii each day. All Sun Ray Grill restaurants feature their own unique menu items, as well as daily specials. The restaurants cater to all size groups and offer private rooms for special events.     More information on the Sun Ray Grill can be found at http://www.sunraygrill.com .     About BizCapital and Advantage Capital Partners     BizCapital ( http://www.biz-capital.com ) is a non-depository financial institution offering competitive loans to small and medium-sized companies. Since its inception in 1999, BizCapital has made more than $100 million in loans to businesses in a variety of industries, helping to stimulate business growth and economic activity.     BizCapital's parent firm is Advantage Capital Partners ( http://www.advantagecap.com ), a venture capital and private equity firm focused on investing in promising companies located in areas underserved by traditional venture capital. With offices and partners in New Orleans, St. Louis and several other cities, Advantage Capital has raised more than $750 million in institutional venture capital since 1992.  

SOURCE Advantage Capital Partners
    NEW ORLEANS, Feb. 8 /PRNewswire/ -- Sun Ray Grill, LLC, a locally owned and operated restaurant group with four restaurants across the New Orleans metropolitan area, has recently acquired the space it rented for five years in the historic Cotton Mill Apartments building. The purchase was made possible thanks to $575,000 in financing from BizCapital, the small business lending arm of Advantage Capital Partners, a local venture capital and private equity firm.     The Sun Ray Grill restaurant group is owned and operated primarily by Dana and Julia Deutsch, a husband and wife team who have been in the restaurant business for more than a decade. Dana Deutsch has a wide and varied restaurant background including two years at the Windsor Court Hotel's Grill Room and one year at the Little Nell hotel in Aspen, Colorado. He is the executive chef of Sun Ray Grill, designing and teaching his menu in all the restaurants. Julia Deutsch coordinates the financial operations of the Sun Ray restaurants. She also manages finances for other local restaurants through her management company, Mango Management.     "As New Orleans natives and business owners, we are committed to helping rebuild the city that has supported us for so long," said Julia Deutsch, co-owner of the Sun Ray Grill. "Our investment in the Cotton Mill Apartment building solidifies our long-term commitment to the Warehouse District and allows us to continue providing our customers with a great dining experience in a fun, family-friendly atmosphere."     Dana Deutsch opened his first Sun Ray Grill in the Meadowcrest Hospital building in 1996 and in 1999, opened his second location in Metairie. In 2001, the Deutsches, along with investor and managing partner Christian Olsen, opened the third Sun Ray Grill, in the Warehouse District of New Orleans. The fourth location, The Sun Ray Grill Mid City, opened in 2004 and is owned by the Deutsches and two other investors. The Mid City location was significantly damaged by Hurricane Katrina and re-opened for business in March 2006.     "The Deutsches have a proven track record of developing and operating innovative and profitable restaurants that cater to the New Orleans communities in which they operate," said John M. Brocato, president of BizCapital. "Purchasing the Sun Ray Grill space in the Cotton Mill Apartment building will enable the restaurant to grow its customer base and achieve further success in the months and years to come."     BizCapital is providing financing for Sun Ray Grill, LLC, through a small business lending fund established to provide financing for entrepreneurs in communities that qualify under the U.S. Treasury's New Markets Tax Credits Program. BizCapital's parent firm, Advantage Capital Partners, already has raised more than $110 million through the New Markets program. To qualify for investment from the fund, a company must fit the SBA definition of a small business for its particular industry and be located within a low-income census tract. Loans can range from $250,000 to $2 million for capital to build, rebuild or expand operations and facilities.     The Sun Ray Grill markets itself as a family friendly restaurant serving cuisine and cocktails influenced by sun-drenched destinations such as the California coast, the Caribbean, the Mediterranean and the Pacific Rim. The focus is on light cooking, fresh salads, grilled meats and fresh seafood flown in from Hawaii each day. All Sun Ray Grill restaurants feature their own unique menu items, as well as daily specials. The restaurants cater to all size groups and offer private rooms for special events.     More information on the Sun Ray Grill can be found at http://www.sunraygrill.com .     About BizCapital and Advantage Capital Partners     BizCapital ( http://www.biz-capital.com ) is a non-depository financial institution offering competitive loans to small and medium-sized companies. Since its inception in 1999, BizCapital has made more than $100 million in loans to businesses in a variety of industries, helping to stimulate business growth and economic activity.     BizCapital's parent firm is Advantage Capital Partners ( http://www.advantagecap.com ), a venture capital and private equity firm focused on investing in promising companies located in areas underserved by traditional venture capital. With offices and partners in New Orleans, St. Louis and several other cities, Advantage Capital has raised more than $750 million in institutional venture capital since 1992.  SOURCE Advantage Capital Partners