ARKO Corp. amends Oak Street program, adds $1.25B capacity for Travel Centers of America properties

ARKO Corp.

Second Amendment extends program term and exclusivity through Sept 30, 2023 for Travel Centers of America property acquisitions.
Additional $1.25 billion capacity under the program specifically for acquiring properties from Travel Centers of America.
Program originally had up to $1.15B capacity; now total capacity increased for Travel Centers deals.
GPM (ARKO subsidiary) will triple-net lease properties from Oak Street after purchase.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARKO Corp. amended Second Amendment with funds managed by Oak Street Real Estate Capital, LLC valued at up to an additional $1.25 billion (effective 2023-03-29).

Action: amendment
Agreement: lease
Counterparty: funds managed by Oak Street Real Estate Capital, LLC
Value: up to an additional $1.25 billion
Effective: 2023-03-29

Exact text from the filing

On March 29, 2023, GPM and funds managed by Oak Street entered into a second amendment to the Program Agreement (the “Second Amendment”), which, among other things, (i) extended the term of the Program Agreement and the exclusivity period thereunder through September 30, 2023 with respect to property to be acquired from Travel Centers of America Inc. and (ii) provides for up to an additional $1.25 billion of capacity under the Program Agreement to be used to acquire property from Travel Centers of America Inc.

View on SEC.gov

Browse all material agreements →

ARKO Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-010497

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.