Capital Petroleum Acquires 29 From ExxonMobil
Washington, D.C. -- Capital Petroleum Group LLC's principal owner, Joe Mamo, purchased 29 ExxonMobil locations in Northern Virginia, which were financed through Petroleum Capital and Real Estate LLC and an exclusive arrangement with a large private equity real estate investment trust (REIT).
"We are excited that we could help facilitate this transaction," John C. Flippen Jr., of Petroleum Capital and Real Estate, said in a statement. Flippen was the exclusive advisor in the acquisition. "This is the fifth acquisition that we have helped Joe Mamo facilitate and during that time Mr. Mamo has purchased a combined total of 140 locations from Exxon and Shell."
In late September, another of Mamo's businesses, White Oak Petroleum LLC, completed the acquisition of 36 fee simple locations from Exxon, financed through a sale-leaseback transaction.
And in April 2009, Mamo, who also operates Shell-branded petroleum marketing firm DAG Petroleum Suppliers LLC, purchased 18 locations from Shell/Motiva in Arlington and Alexandria Va., under the newly formed NOVA Petroleum Suppliers, which handles the supply contracts, and Nova Properties, which owns the real estate. At that time, Mamo owned 26 other Shell-branded, dealer-operated and contract-operator gas and convenience store locations in the Washington D.C. area.
John Sartory, managing director and principal of Petroleum Capital and Real Estate, added: "This was a rare opportunity to acquire a large number of premium real estate sites in downtown Washington, D.C., and northern Virginia. The strong real estate attributes, combined with the opportunity to partner with an established and professional petroleum marketing organization, immediately attracted our private REIT client to this investment."
In the last 12 months, Petroleum Capital and Real Estate have helped its clients close on more than $300 million in retail acquisitions and re-financings though senior, sale lease back, mezzanine and equity financing. Petroleum Capital and Real Estate provides consulting, M&A and financial advisory services for small- to middle-market clients exclusively in the retail petroleum industry.
Related News:
White Oak Acquires 36 D.C. Area Exxon Sites
DAG Petroleum Owner Buys 18 Virginia Shell Locations
"We are excited that we could help facilitate this transaction," John C. Flippen Jr., of Petroleum Capital and Real Estate, said in a statement. Flippen was the exclusive advisor in the acquisition. "This is the fifth acquisition that we have helped Joe Mamo facilitate and during that time Mr. Mamo has purchased a combined total of 140 locations from Exxon and Shell."
In late September, another of Mamo's businesses, White Oak Petroleum LLC, completed the acquisition of 36 fee simple locations from Exxon, financed through a sale-leaseback transaction.
And in April 2009, Mamo, who also operates Shell-branded petroleum marketing firm DAG Petroleum Suppliers LLC, purchased 18 locations from Shell/Motiva in Arlington and Alexandria Va., under the newly formed NOVA Petroleum Suppliers, which handles the supply contracts, and Nova Properties, which owns the real estate. At that time, Mamo owned 26 other Shell-branded, dealer-operated and contract-operator gas and convenience store locations in the Washington D.C. area.
John Sartory, managing director and principal of Petroleum Capital and Real Estate, added: "This was a rare opportunity to acquire a large number of premium real estate sites in downtown Washington, D.C., and northern Virginia. The strong real estate attributes, combined with the opportunity to partner with an established and professional petroleum marketing organization, immediately attracted our private REIT client to this investment."
In the last 12 months, Petroleum Capital and Real Estate have helped its clients close on more than $300 million in retail acquisitions and re-financings though senior, sale lease back, mezzanine and equity financing. Petroleum Capital and Real Estate provides consulting, M&A and financial advisory services for small- to middle-market clients exclusively in the retail petroleum industry.
Related News:
White Oak Acquires 36 D.C. Area Exxon Sites
DAG Petroleum Owner Buys 18 Virginia Shell Locations