Bli medlem
Bli medlem

Du är här


CrossAmerica Partners LP: Announces the Closing of Sale-Leaseback Transaction with Leading Institutional Real Estate Investor

CrossAmerica Announces the Closing of Sale-Leaseback Transaction with Leading
Institutional Real Estate Investor

* Includes the sale and leaseback of 17 properties in the Chicago market

ALLENTOWN, PA, December 22, 2016 -
CrossAmerica Partners LP (NYSE: CAPL) ("CrossAmerica" or "the Partnership")
announced today that it has completed the previously announced transaction
with a leading institutional real estate investor for the sale and leaseback
of properties acquired as part of the State Oil acquisition for net proceeds
of approximately $25 million. CrossAmerica acquired the State Oil assets on
September 27, 2016 for $41.8 million, which included a total of 56 fee
properties and 60 million gallons of annual fuel supply.

In connection with the sale, CrossAmerica entered into a lease agreement with
a 6.5% capitalization rate under which it will lease 17 properties in the
Chicago market for an initial period of 15 years with an additional 15 years
of renewal options. The proceeds from the transaction will be used to reduce
debt under the Partnership's revolving credit agreement.

About CrossAmerica Partners LP

CrossAmerica Partners is a leading wholesale distributor of motor fuels and
owner and lessor of real estate used in the retail distribution of motor
fuels. Its general partner, CrossAmerica GP LLC, is a wholly owned subsidiary
of CST Brands, Inc., one of the largest independent retailers of motor fuels
and convenience merchandise in North America. Formed in 2012, CrossAmerica
Partners LP is a distributor of branded and unbranded petroleum for motor
vehicles in the United States and distributes fuel to approximately 1,190
locations and owns or leases more than 880 sites. With a geographic footprint
covering 29 states, the Partnership has well-established relationships with
several major oil brands, including ExxonMobil, BP, Shell, Chevron, Sunoco,
Valero, Gulf, Citgo, Marathon and Phillips 66. CrossAmerica Partners ranks as
one of ExxonMobil's largest distributors by fuel volume in the United States
and in the top 10 for additional brands. For additional information, please


Randy Palmer, 210-692-2160
Karen Yeakel, 610-625-8005

Lisa Koenig, 210-692-2659

Forward-Looking Statements

This press release and any oral statements made regarding the subjects of this
release may contain forward-looking statements of CrossAmerica Partners,
which may include, but are not limited to, statements regarding CrossAmerica
Partners' plans, objectives, expectations and intentions and other statements
that are not historical facts, including statements identified by words such
as "outlook," "intends," "plans," "estimates," "believes," "expects,"
"potential," "continues," "may," "will," "should," "seeks," "approximately,"
"predicts," "anticipates," "foresees," or the negative version of these words
or other comparable expressions. All statements addressing operating
performance, events, or developments that CrossAmerica Partners expects or
anticipates will occur in the future, including statements relating to the
acquisitions, consideration that may be subject to adjustment, and closing
conditions, revenue growth and earnings or earnings per unit growth, as well
as statements expressing optimism or pessimism about future operating
results, are forward-looking statements. The forward-looking statements are
based upon CrossAmerica Partners' current views and assumptions regarding
future events and operating performance and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies and changes in circumstances, many of which are beyond each of
the company's control. The statements in this press release are made as of
the date of this press release, even if subsequently made available by
CrossAmerica Partners on its website or otherwise. CrossAmerica Partners
does not undertake any obligation to update or revise these statements to
reflect events or circumstances occurring after the date of this press

Although CrossAmerica Partners does not make forward-looking statements unless
it believes it has a reasonable basis for doing so, the companies cannot
guarantee their accuracy. Achieving the results described in these
statements involves a number of risks, uncertainties and other factors that
could cause actual results to differ materially, including the factors
discussed in this report and those described in the "Risk Factors" section of
the CrossAmerica Partners' Form 10-K or 10-Qs filed with the Securities and
Exchange Commission as well as in CrossAmerica Partners' other filings with
the Securities and Exchange Commission. No undue reliance should be placed
on any forward-looking statements.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CrossAmerica Partners LP via Globenewswire

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.