Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date
of
Report (Date of earliest event reported): February 15, 2007
Getty
Realty Corp.
(Exact
name of registrant as specified in charter)
|
Maryland
(State
of
Organization)
|
001-13777
(Commission
File
Number)
|
11-3412575
(IRS
Employer
Identification
No.)
|
|
125
Jericho Turnpike, Suite 103
|
|
|
Jericho,
New York
|
11753
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant’s
Telephone Number, including area code: (516)
478-5400
Not
Applicable
(Former
name or former address, if changed since last report.)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o
Written communications
pursuant to Rule 425 under the Securities Act
o
Soliciting material pursuant to Rule
14a-12 under the Exchange Act
o
Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act
o
Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act
Item
1.01. Entry into a Material Definitive Agreement
On
February 15, 2007, the Board of Directors of Getty Realty Corp. (together with
Getty Properties Corp., the “Company,” “we” or “our”) ratified a Contract for
Sale and Purchase dated as of February 6, 2007 (the “Agreement”) entered into by
Getty Properties Corp., a wholly owned subsidiary of the Company, with various
subsidiaries of Trustreet Properties, Inc. (together with the subsidiaries,
“Trustreet”). The Agreement relates to the acquisition by the Company of 68
convenience store and gas station properties (the “Properties”) owned and leased
by Trustreet. The total purchase price for the Properties will be approximately
$86.6 million. Substantially all of the Properties are leased to retail tenants.
The Company intends to fund the acquisition utilizing its unsecured corporate
revolving credit line (as may be modified to accommodate the
acquisition).
The
consummation of the acquisition is subject to substantial contingencies that,
among other things, relate to our due diligence with regard to the Properties.
The Agreement provides that we may elect in our sole discretion to terminate
the
Agreement, and not close on the acquisition of the Properties, if the results
of
our due diligence (including environmental and other physical inspections)
with
respect to the Properties is unsatisfactory.
The
Agreement provides that the closing date for the acquisition will be as of
March
31, 2007, subject to the right of the sellers to extend for an additional period
of up to thirty days. In view of the contingencies discussed above, there can
be
no assurance that the acquisition will be consummated within this time frame,
or
at all.
Forward
Looking Statements
Certain
statements in this Current Report on Form 8-K may constitute “Forward Looking
Statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. When the words “believes”, “expects”, “intends”, “plans”, “projects”,
“estimates” and similar expressions are used, they identify forward-looking
statements. These forward-looking statements are based on management’s current
beliefs and assumptions and information currently available to management and
involve known and unknown risks, uncertainties and other factors which may
cause
the actual results, performance or achievements expressed or implied by these
forward-looking statements. Information concerning factors that could cause
our
actual results to differ materially from these forward-looking statements can
be
found in our Annual Report on Form 10-K for the fiscal year ended December
31,
2005, as well as in the other filings we make with the Securities and Exchange
Commission. We undertake no obligation to publicly release revisions to these
forward-looking statements to reflect future events or circumstances or reflect
the occurrence of unanticipated events.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
GETTY
REALTY CORP.
|
| |
|
|
| |
|
|
| |
|
|
| |
|
|
|
Date:
February 22, 2007
|
By:
|
/s/
Thomas J. Stirnweis
|
| |
|
Thomas
J. Stirnweis
|
| |
|
Vice
President, Treasurer and
|
| |
|
Chief
Financial Officer
|