Matrix Successfully Advises Getty Realty on Large Portfolio Repositioning
RICHMOND, VA – December 21, 2012 – Matrix Capital Markets Group, Inc. announced today that it has successfully advised Getty Realty Corp. (NYSE:GTY) (“Getty”) during the repositioning of their portfolio of properties previously leased to Getty Petroleum Marketing, Inc.
Through this effort, Getty has successfully leased 443 properties on a long-term triple net basis with eight different tenants. Tenants include:
• BP Products North America, Inc. (NYSE: BP) (28 properties);
• a subsidiary of Lehigh Gas Partners LP (NYSE: LGP) (145 properties);
• a subsidiary of Global Partners LP (NYSE: GLP) (84 properties);
• NECG Holdings, an affiliate of CPD Energy (84 properties);
• a subsidiary of Capital Petroleum Group (24 properties);
• MWS Enterprises (10 properties);
• Ramoco Fuels (61 properties); and
• an affiliate of Sam’s Food Stores (28 properties).
Thomas Kelso, a managing director at Matrix, commented “It has been a great honor to be selected by Getty to assist them with this substantial challenge. To reposition this large of a portfolio in approximately nine months time took an enormous effort by Getty and Matrix. The coordinated effort with Getty that was required to accomplish this endeavor was led by our energy team at Matrix which enabled us to successfully produce the timely and effective results required by our client.”
David B. Driscoll, Getty Realty Corp.’s Chief Executive Officer, stated “We considered several options before selecting Matrix for this assignment and this experience confirms that we made the ‘right’ choice. Matrix’s professional and disciplined approach delivered timely and cost effective results. The Matrix team helped us to expand our client base and preserve value in the portfolio.”
About Getty Realty Corp.
Getty Realty Corp. is the leading publicly-traded real estate investment trust in the United States specializing in ownership, leasing and financing of convenience store/gas station properties and petroleum distribution terminals. The Company owns and leases approximately 1,110 properties nationwide.
Matrix’s Energy and Multi-Site Retail Group is recognized as the national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience store chains, petroleum marketers, fuels distributors, retail propane distributors, heating oil distributors, lubes retailers and distributors, terminal operators, fuels transportation companies, hospitality companies, and other specialty retail chains. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate restructurings, corporate valuations, and strategic planning engagements. Since its inception in 1997, this dedicated group has successfully advised on nearly 100 engagements in these sectors.