The properties were bought for $68.3 million
Getty Realty Corp. has concluded its previously announced acquisition lease-back transaction with a U.S. subsidiary of Applegreen PLC (“Applegreen”). The Company, through a subsidiary, under the revised terms of the transaction, acquired interests in 38 fee simple properties for $68.3 million and simultaneously leased them under a unitary lease to the U.S. subsidiary of Applegreen.
Christopher J. Constant, Getty’s President & Chief Executive Officer said, “We are pleased to announce the closing of the Applegreen transaction, which both extends our reach into South Carolina, and commences our long-term relationship with Applegreen, the largest convenience stores and fuel station operator in the Republic of Ireland. When combined with our previously announced acquisition activity, Getty has now acquired more than 100 high-quality properties and invested more than $210 million thus far in 2017. Our year-to-date activity demonstrates our commitment to growing the Company and positions Getty to generate significant growth for our shareholders for years to come.” PWKD05102017