Applegreen USA Welcome Centers
Overview
| Deal Type |
Mergers & Acquisitions |
|---|---|
| Size |
$225 Million Senior Secured Credit Facilities |
| Client & Transactional Partners |
Applegreen Blackstone |
| Our Role |
Joint Lead Arranger Joint Lead Bookrunner Administrative Agent Hedge Provider |
Summary
On July 23, 2021, KeyBanc Capital Markets (“KBCM”) closed $225 million of Senior Secured Credit Facilities for Applegreen and Blackstone’s acquisition of a portfolio of on-highway service plazas (the “Project”) from HMSHost. The acquisition was financed through a combination of the credit facility and equity provided by Applegreen and Blackstone Infrastructure Partners. KBCM served as Joint Lead Arranger, Joint Lead Bookrunner, Administrative Agent and Hedge Provider.
The Project is the largest portfolio of privately operated on-highway service plazas in the US, consisting of 64 service plazas located across 14 highways within nine states (NJ, DE, PA, ME, OH, IN, WV, IL, MA).
