ExxonMobil Sells 72 N.Y. Stores to Capital Petroleum Group
WASHINGTON, D.C. -- As the exclusive advisor to Joe Mamo, principal owner of Capital Petroleum Group LLC and its affiliated companies, Petroleum Capital and Real Estate LLC, helped facilitate the purchase of 72 ExxonMobil locations in the NYC metropolitan area.
John C. Flippen, Jr., managing director of Petroleum Capital and Real Estate LLC reported the 72 locations were financed through Petroleum Capital and Real Estate LLC's -- www.PetroCapRe.com -- exclusive arrangement with a large private equity real estate investment trust that provided a combination of bridge, mezzanine and equity funds.
"We are excited that we could help facilitate this transaction," Flippen said in a statement. "This is the sixth acquisition that we have helped Joe Mamo facilitate and during that time Mr. Mamo has purchased over 200 locations from Exxon and Shell. 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. Our firm's ability to close these transactions during arguably one of the toughest economic environments on record demonstrates the need for buyers and sellers to hire specialists when contemplating C & G transactions."
In the last two years, Petroleum Capital and Real Estate, LLC -- www.PetroCapRE.com -- and its principals, John C. Flippen, Jr. and John Sartory, have helped its clients close on over $500 million in retail acquisitions and re-financing packages through senior, sale lease back, mezzanine and equity financing. Petroleum Capital and Real Estate, LLC provides consulting, M&A and financial advisory services for small to middle market clients exclusively in the retail petroleum industry.
"This was a rare opportunity to acquire a large number of premium real estate sites in the New York City metropolitan area," said John Sartory, managing director and principal of Petroleum Capital and Real Estate LLC. "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."