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GARDEN CITY, N.Y. -- Bolla Oil Corp. based here, acquired 36 Mobil-branded retail petroleum facilities located in Brooklyn and Staten Island, according to PetroProperties & Finance LLC (PP&F) and its northeast regional strategic partner, Petroleum Equity Group.
"We are very pleased to see this process reach a successful conclusion and for the opportunity to extend our many years of petro experience to assist Bolla Oil," Mike Baskin, CEO of PetroProperties & Finance said in a released statement.
The store package is comprised of both fee simple and leasehold properties, and this transaction culminates a more than two-year endeavor by Bolla and their financial advisory team to bid on and secure these choice retail assets from Exxon Mobil Corp., PP&F reported.
"It was exciting to be an integral part of the analytics and financial advisory team from the beginning, and to have aided Bolla Oil in fulfilling its growth objectives though this acquisition," Ken Shriber, VP of PP&F and owner of PEGL said in a released statement.