Getty Realty closes USD 260.9 million sale-leaseback deal for 41 Refuel convenience stores

Refuel becomes the third-largest tenant at about 7.7% of annualized base rent on a pro forma basis.

Getty Realty said its funding plan targets leverage neutrality using forward equity proceeds, a committed USD 200 million unsecured term loan and property sales.

Year to date, investment reached USD 455.2 million at a 7.1% initial cash yield, and the committed pipeline exceeds USD 125 million.

Getty Realty closed a USD 260.9 million sale-leaseback with Refuel, acquiring 41 convenience stores under four 20-year unitary net leases.

The portfolio spans South Carolina, North Carolina, Texas and Mississippi. The leases include five-year rent escalators and multiple renewal options.