Tuesday, November 3, 2015
Town Star Holdings Grows Its Florida Holdings
Junonia Capital affiliate acquires five RaceTrac c-stores
Source: Convenience Store News
FORT MYERS, Fla. — Town Star Holdings LLC, an affiliate of Junonia Capital LLC, is expanding its footprint in the Sunshine State with the acquisition of five RaceTrac Petroleum Inc. convenience stores.
The acquired assets consist of four convenience stores in the Orlando area, including Orlando, Kissimmee, Belle Isle and Apopka, as well as one store in Jacksonville. The sites range from 1.01 to 1.92 acres, and the average store size is approximately 4,200 square feet.
Junonia Capital formed Town Star Holdings in 2014 to make strategic acquisitions in the c-store industry. Last November, the company acquired 16 stores in Florida from TimeSaver Food Stores Co. This five-store acquisition from RaceTrac is the second transaction for the company.
NRC Realty & Capital Advisors LLC acted as exclusive financial advisor to Town Star in connection with arranging sale-leaseback financing with Spirit Realty Capital Inc.
“We are excited to be able to expand our portfolio of convenience stores with these excellent sites we are acquiring from RaceTrac,” said Brian Fox, managing member of Junonia Capital. “Furthermore, NRC did an excellent job in assisting us secure attractive sale-leaseback financing in order to complete the acquisition.”
NRC Executive Managing Director Dennis Ruben added: “We were very pleased to be able to assist Town Star obtain financing for this sale. This is the second opportunity we have had to help Town Star obtain financing, and it is gratifying to watch their portfolio grow.”