Real estate company announces first set of c-store acquisitions 

Real estate company announces first set of c-store acquisitions

BEVERLY, Mass. — BW Gas & Convenience Holdings, an affiliate of Brookwood Financial Partners LLC, has acquired a portfolio of 10 gas station and convenience stores in western Iowa.

BEVERLY, Mass. — Brookwood Financial Partners LLC, which plans “to acquire between 600 and 1,000 gas stations with convenience stores in selected regions of the U.S. over the course of the next several years,” announced its first acquisition, according to CSPnet.com.

The real estate investment and asset management company’s affiliate, BW Gas & Convenience Holdings LLC, has acquired a portfolio of 10 gas station and c-stores in western Iowa, stated the article, however it did not name the seller.

The acquisition includes a Cenex-branded fuel distribution and transportation business, two company-owned and dealer-operated stores, and eight company-owned and –operated stores, reported the article.

BW was formed by Brookwood in mid-2015 to acquire and operate gas stations and c-stores, continued the article, and the business is “actively seeking growth opportunities and is in various stages of due diligence for building the portfolio across the Midwest.”

Brookwood reported that it plans to utilize its 22 years of experience acquiring, improving and operating around $2.2 billion of real estate in order to expand into the gas station and c-store sector, informed the article.

“Our strategy lies at the intersection of our proven value-add real estate investing experience and the favorable timing for attractive acquisitions within the gas station and convenience store industry,” said Mark J. Daniels, director of alternative real estate acquisitions for Brookwood, in the article. “A significant focus of our strategy is to create an initial platform within each region, acquire additional stores to achieve economies of scale and add value to the portfolio by improving both the real estate and in-store margins.”

The company plans to invest approximately $1 million in selected capital improvements to the stores within the recently acquired portfolio, added the article.

“These improvements are designed to enhance the overall appeal of the stores, and when coupled with our merchandising and operational plan, will enable us to offer a fresh experience for consumers in the Iowa region,” said Brian Trout, senior vice president of operations, in the article. “Over the years, the previous owners have established a loyal and reliable customer base, and we look forward to serving the people in these local communities.”

Trout, former 7-Eleven and The Pantry executive, was hired earlier this year by Brookwood to run retail operations for BW, noted the article.

You can find the article here.

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