BisnowKinderCare Real Estate Locks In $650M Refinancing
A private REIT tied to the Milken family refinanced a 549-property KinderCare portfolio as the childcare operator's stock slides on weak enrollment.
Falfurrias Capital Partners has taken a growth stake in the youth sports franchisor behind Soccer Stars, Amazing Athletes and TGA, aiming the capital at franchisee support rather than new brands.

Youth Athletes United, the multi-brand franchisor behind Soccer Stars, Amazing Athletes and TGA, has taken on a growth investment from Falfurrias Capital Partners. The deal covers a network of more than 400 franchise territories delivered through schools, parks and early childhood centers, and terms were not disclosed.
Unlike much of the institutional money flowing into youth sports, which has gone toward facilities and tournament roll-ups, this investment is earmarked for franchisee infrastructure, territory support and marketing. Co-founders Adam Geisler and John Erlandson stay on as CEO and president, a signal to existing owners that the operating playbook will not change overnight.
The three brands sit at different points on an age curve. Amazing Athletes serves children ages 1 to 7 and is YAU's largest brand by franchise count, Soccer Stars runs low-overhead programming out of parks and schools, and TGA covers golf, tennis and pickleball for children 6 and up in more than 20 states. That structure lets a family move through the portfolio as kids age, and it lets a single franchise owner add a second or third territory with far less onboarding than a first-time operator.
For multi-unit operators watching the youth enrichment category, the deal is a data point on how sponsors are underwriting growth here, not through new concept launches but through deepening support for the owners already running territories. Whether that translates into higher revenue per territory or simply a larger territory count will shape how the next round of capital prices the category.
BisnowA private REIT tied to the Milken family refinanced a 549-property KinderCare portfolio as the childcare operator's stock slides on weak enrollment.
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