The Real Deal New York

Jericho REIT buys 30 properties in four states for $52M

April 23, 2018 02:23PM

Getty Realty, a publically-traded REIT based in Jericho, bought 30 gas station and convenience store properties from E-Z Mart Stores for $52 million. As part of the deal, Getty turned around and leased the properties in Arkansas, Louisiana, Oklahoma and Texas to Virginia-based GPM Investments — one of the country’s largest convenience store operators. Getty specializes in owning, leasing and financing these types of properties. As of December 2017, it owned 828 properties and leased another 79 from third-party landlords in 28 states. [LIBN]