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Noutia Energy buys 80 Shell Stations,sale and lease back to Getty

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 stations will remain Shell branded and Nouria will operate the network. This transaction is in accordance with Motiva’s announced plans to transition its Shell-branded stations to wholesale-supplied stations.

“It is great to be aligned with Shell, the No. 1 selling gasoline brand in the U.S. We look forward to continuing the strong brand presence in Massachusetts and New Hampshire as well as maintaining the stations and operations to Nouria’s high standards,” Tony El-Nemr, Nouria Energy founder, president and CEO, said in a statement.

Getty Realty announced late yesterday that it has acquired 66 Shell-branded gasoline station and convenience store properties located in and around the greater Boston and southern New Hampshire area for approximately $86.1 million, in a sale/leaseback transaction with Nouria Energy Ventures.

“We are pleased to have been able to finance the acquisition of these Shell-branded properties for Nouria Energy Group,” said David Driscoll, CEO of Getty Realty,. “The sites consist of proven, high-volume locations in mature neighborhoods. In addition, Nouria Energy Group currently operates 19 of the sites and has demonstrated considerable knowledge about the region generally and these properties specifically. The other 47 sites are also being supplied with fuel by Nouria Energy Group and are currently being operated by the existing independent dealers selling gas under the Shell brand.”