Bucks Inc. purchased 89 ExxonMobil locations in the Chicago metropolitan area. The 89 locations were financed through an exclusive arrangement between Petroleum Capital and Real Estate LLC â www.PetroCapRe.com â and a large private equity real estate investment trust.
âPetroleum Capital and Real Estate LLC is excited that our firm could help facilitate this transaction,â said John C. Flippen, Jr., managing director of Petroleum Capital and Real Estate LLC. Buck's, Inc. is a large and well established BP and ConocoPhillips branded jobbership and a leading regional distributor of petroleum products and services in the Midwest region of the United States.
âThis was a rare opportunity for Buck's Inc. to acquire a large number of premium real estate sites in the Chicago metropolitan area, a trade area that has very high barriers to entry and was a natural fit with our client's existing retail network. Our company differentiates itself by providing clients access to not only senior lenders but also mezzanine and private equity investors. We focus solely on completing transactions within the convenience store and gas station (C & G) industry.â
Petroleum Capital and Real Estate LLC is an exclusive advisor to Buck's owner Steve Buchanan.
John Sartory, managing director and principal of Petroleum Capital and Real Estate LLC, added, âThis was a rare opportunity to acquire a large number of premium real estate sites in the Chicago metropolitan area. The strong real estate attributes, combined with the opportunity to partner with an established and professional petroleum marketing organization such as Buck's, Inc., immediately attracted our private REIT client to this investment.â