Refinancing

Leading REIT refinances in the New York Market

Getty Realty Corp. is the largest publicly-traded REIT in the United States that specializes in the ownership and leasing of retail motor fuel and convenience store properties, primarily in the Northeast and Mid-Atlantic regions of the United States. Prudential Capital Group was first introduced to Getty in 2010, when the Company was actively pursuing an acquisition opportunity. Although Getty ultimately consummated that particular acquisition with internal cash flow, Prudential Capital Group maintained an ongoing relationship with the senior management team.

In February 2013, the Company approached Prudential Capital Group to facilitate the refinancing of the Company’s debt capital structure. Getty was seeking long-term senior debt capital to complement its short-term bank credit facilities.  As a public company, Getty had many available financing alternatives, ultimately, Getty utilized $100 million of fixed-rate senior notes from Prudential Capital Group to help consummate the broader refinancing. The Company decided to partner with Prudential Capital Group because of ease of execution, as well as the desire to build a long-term relationship with a patient, relationship-focused capital provider.