USA: Getty Realty Corp. Concludes Acquisition Of 49 Properties

The transaction involved the acquisition of 49 properties for $123 million

Getty Realty Corp.  has closed its previously announced acquisition lease-back transaction with Empire Petroleum Partners, LLC. Through a subsidiary, Getty has purchased fee simple interests in 49 convenience store and fuel station properties for $123 million and simultaneously leased them to Empire under a unitary lease.

“We are delighted to have closed this accretive transaction and to add 49 high-quality properties to our convenience store and fuel station net lease portfolio,” said Christopher J. Constant, Getty’s President & Chief Executive Officer. “In addition, we are excited to begin a long-term partnership with Empire, a strong national fuel distributor and convenience store operator. This transaction demonstrates our ability to execute on our strategy of growing our portfolio in targeted markets in the United States.” PWKD11092017

Last modified onMonday, 11 September 2017 21:15
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