Nouria Energy Corp. and Nouria Energy Ventures I LLC have completed the acquisition of a portfolio comprised of 80 Shell-branded retail gas stations located in Massachusetts and New Hampshire from Motiva Enterprises LLC. As part of a simultaneous transaction, Getty Realty Corp. has financed a sale/leaseback transaction with Nouria Energy covering 66 stations; the remaining locations will be supplied directly by Nouria.
The 66 properties were acquired in a simultaneous transaction among Motiva Enterprises LLC (“Shell”), Nouria and Getty Realty Corp. whereby Nouria acquired 66 gasoline station and convenience stores from Shell and simultaneously completed a sale/leaseback with Getty of the 66 properties under a long-term triple-net unitary lease having an initial term of 20 years plus renewal options. The Company expects to receive approximately $5.8 million of revenue from the investment during calendar year 2011.
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