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LOS ANGELES -- Petroleum Capital Advisors (PCA), an advisory firm that assists lenders and note buyers of distressed gas station and convenience store loans, announced its opening today.
PCA, which operates in California, Arizona, Nevada, Oregon and Washington, is involved in the receivership, acquisition, disposition, leasing and financing of more than 675 c-stores, gas stations and car washes.
PCA is led by founders Stephen J. Donell, a court-appointed receiver and president of FedReceiver; Matthew S. Meza, partner and head of the energy practice at law firm Halling Sokol + Meza LLP; and Scott L. Olson, president of C-Store Realty Inc., a real estate firm focused on convenience stores and downstream fuel businesses.
"Our services are geared toward the preservation, maintenance and potential disposition of the distressed asset through the use of a court-appointed receiver and/or management of a lender-owned asset," said Donell. "Gas station, car wash and convenience store assets present an often complex set of issues for the lender, and PCA provides its clients with a team of experts who can effectively deal with each unique asset."
Meza added that many lenders aren't equipped to handle the complexities that gas stations present, a place where PCA will excel. "A misstep in any of these areas could have a significant impact on the value of the asset," he said.