Deweese Completes $30 Million Sale-Leaseback Transaction
MERIDIAN, Miss. -- Deweese Enterprises Inc. has completed a $30 million sale-leaseback transaction for 24 Super Stop convenience store locations throughout Mississippi. The purchaser, a real estate investment trust, leased the 24 stores back to Deweese Enterprises, Inc. under long-term lease agreements. Chicago-based NRC Realty Advisors LLC served as financial advisor to the company in connection with the financing.
“This was a great transaction for our company,” said Doug Deweese, president and CEO of Deweese Enterprises. “NRC's established relationships within the financial services and petroleum industries and their in-depth knowledge of sale-leaseback transactions facilitated a very favorable transaction. “Although it was our original intention to divest a small number of locations, after looking at the options that NRC presented, including a potential sale of the entire company, we decided on a sale-leaseback strategy. I am very pleased with the manner in which NRC represented the interests of our company throughout this deal."
“This was a great transaction for our company,” said Doug Deweese, president and CEO of Deweese Enterprises. “NRC's established relationships within the financial services and petroleum industries and their in-depth knowledge of sale-leaseback transactions facilitated a very favorable transaction. “Although it was our original intention to divest a small number of locations, after looking at the options that NRC presented, including a potential sale of the entire company, we decided on a sale-leaseback strategy. I am very pleased with the manner in which NRC represented the interests of our company throughout this deal."