NRC Realty & Capital Advisors, LLC (NRC) has arranged a $46 million senior secured credit facility for GPM Investments LLC (GPM) through an affiliate of Bayside Capital Inc.
The Bayside facility will replace existing loans as well as provide additional operating capital. GPM is owner of the Fas Mart and Shore Stop chain of convenience stores in a nine-state area in the Eastern U.S.
“NRC was able to bring Bayside to the table with an attractive, long-term financing solution which closed within a very short time frame,” said Don Bassell, GPM’s chief financial officer. “With this facility in place, GPM is well positioned to continue its strategic growth and expansion plans.”
“We worked with several lenders before nailing down the right loan facility with the right lender to meet GPM’s needs,” said Denny Ruben, managing director at NRC. “In today’s lending environment, financing for c-store chains is often challenging. Many lenders have been pulling back, even with their existing customers. That means you have to work harder and look wider when seeking appropriate financing. NRC is positioned to do just that for our clients.”