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Holliday Fenoglio Fowler LP (HFF) has arranged post-acquisition financing for 154 convenience and gas station properties totaling 98 acres in the northeastern U.S.
The borrower is a subsidiary of a private real estate investment fund advised by Crow Holdings Capital-Real Estate. The 5-year, floating-rate acquisition loan was provided by a consortium of lenders led by CapitalOne and BMO Harris and a financial services company.
The portfolio properties comprise 88 sites in New York, 45 sites in Massachusetts and 11 sites in Connecticut. Additionally, there are seven sites in New Hampshire, two Rhode Island sites and one site in Pennsylvania. All 154 properties are subject to an absolute net lease for 20 years with a subsidiary of Petroleum Marketing Group, a leading jobber and distributor of petroleum products and operator of convenience stores.
HFF’s debt placement team was led by senior managing director Andy Scott and associate director Michael George.
