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CHICAGO and NEW YORK — NRC Realty & Capital Advisors LLC and Petroleum Equity Group Ltd. have formed a partnership to provide joint real estate and financial advisory among other services to convenience store and gasoline station owners and operators.
"We are excited to form this strategic alliance with NRC. Over the past few years, the companies have mutually admired the quality of work they independently produce, and we thought that this was the right time to co-develop future business," stated Ken Shriber, managing director of Petroleum Equity. "By combining resources on selected projects, we believe that together we can deliver even greater opportunities and improved services to clients."
NRC and Petroleum Equity most recently worked together on Western Convenience Stores' emergence from Chapter 11 bankruptcy in August.
"We have great respect for the work that Petroleum Equity Group has done since their inception in 2008. We at NRC believe that our two companies complement each other particularly well and that by offering our combined services to our clients in certain, unique situations, we will be able to provide superior service and added value to existing and new clients," NRC Executive Managing Director Dennis Ruben said.
Chappaqua, N.Y.-based Petroleum Equity Group is a full-service advisory company to the downstream fuels and convenience store industry.
NRC Realty is headquartered in Chicago. It provides real estate and financial advisory services to the c-store and petroleum industries. It specializes in the accelerated sale of commercial and residential real estate.