The $214 million deal includes locations in the Pacific Northwest, West Coast and Colorado, which were acquired from affiliates of Pacific Convenience and Fuels LLC and simultaneously leased to United Oil.

Getty Realty Corp. has acquired 77 convenience store and gas stations located in several high growth regions and operating under an array of well-known banners for approximately $214 million.

The acquisition includes properties in Northern California, Southern California, Colorado, Washington, Nevada and Oregon. The brands acquired include 76, Conoco, Circle K, 7-11 and My Goods Market.

“This acquisition is immediately accretive to AFFO, FFO and earnings,” said David Driscoll, Getty’s president and CEO. “It also achieves several important objectives for our Company including: materially expanding our geographic reach primarily in high growth regions and adding a new institutional quality tenant. We believe the addition of these properties, combined with other activity in our portfolio, has materially improved the overall credit quality of our revenue stream. In addition, we believe we are positioned to provide sustained cash flow growth for shareholders in the coming years.”

The 77 properties were acquired from affiliates of Pacific Convenience and Fuels LLC and simultaneously leased to United Oil, a leading regional convenience store and gas station operator. United Oil is triple-net leasing the 77 properties acquired by Getty for an initial term of 20 years, with three five-year renewal options. The Company expects to receive approximately $16.7 million of annual GAAP revenue from the transaction.

United Oil operates approximately 400 locations (inclusive of the current transaction) in the Western United States and Colorado and is a portfolio company of Fortress Investment Group LLC.