09/03/2013
RBS Citizens provides $29.85 million in financing for acquisition of 20 Chevron locations in South Florida
Latest deal by South Florida Commercial Properties expands Marvin Hewett Enterprises’ network
Boston, RI (September 4, 2013) – RBS Citizens has provided South Florida Commercial Properties, LLC, an affiliate of Marvin Hewett Enterprises located in Lawrenceville, GA with a $29.85 million, seven-year credit facility for the acquisition of 20 Chevron locations in South Florida.
“As a new customer of RBS Citizens, we have been very impressed with their flexibility, diligence and commitment to meeting our schedule,” said Ben Smith of Marvin Hewett Enterprises. “Because they clearly understand our industry and our strategy, we were able to complete this deal in a timely manner.”
“This deal is a great demonstration of our capabilities and focus on meeting the needs of our customers,” said Mike Phelps, Head of Convenience and Retail Petroleum Finance Group for RBS Citizens. “We have the resources to handle this size of transaction while always being focused on what is best for our customer.”
Marvin Hewett Enterprises owns and supplies convenience stores and gas stations in multiple states, primarily in the Southeastern United States.
The RBS Citizens Convenience and Retail Petroleum Finance Group is focused on meeting the banking and financing needs of the Retail Petroleum/C-Store Industries. With extensive industry expertise, RBS Citizens offers financial support to multi-unit operators nationwide that require credit facilities and national lending capabilities, risk management advisory services, and interest rate derivatives along with a full range of traditional commercial banking products and services
For information about the RBS Citizens Convenience and Retail Petroleum Finance Group, contact us at 1.855.782.8242 or [email protected]. More information is also available online.
About RBS Citizens Financial Group, Inc.
RBS Citizens Financial Group, Inc. is a $127 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has approximately 1,400 branches, approximately 3,600 ATMs and more than 19,000 colleagues. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG has non-branch retail and commercial offices in more than 30 states. RBSCFG is owned by RBS (the Royal Bank of Scotland Group plc). RBSCFG’s website is citizensbank.com.
