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Petroleum Realty Gains Ground as Retail Buyout Market Softens

MIAMI-One-stop provider of financing for the retail petroleum market closes third major deal this year, underwriting the $17.4 million sale of Gillespie Oil Co. to AmeriStop.

By David R. Corder | Updated on April 25, 2001

MIAMI-In just three deals announced so far this year, Petroleum Realty Investment Partners has financed almost $80 million in acquisitions or sale-leasebacks through its joint-venture partnership with Lehman Brothers.

Just this week, this Miami-based one-stop financing shop for the retail petroleum market negotiated $17.4 million in first mortgages to back the sale of Gillespie Oil Co. to AmeriStop Food Mart Inc., the operating franchise of Ohio Valley AFM Inc., Cold Spring, KY.

Richard Hunt, Petroleum Realty’s acquisition adviser, supervised the deal that transfers ownership of 10 Shell-brand convenience stores in the Central Ohio area.

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