Daily News: February 1, 2012

Petroleum Capital Advisors Announces Launch


Petroleum Capital Advisors (PCA), an advisory firm specializing in assisting lenders and note buyers of distressed gas station/C-Store loans announced its opening.

PCA is led by founders Stephen J. Donell, a state and federal court-appointed receiver and president of FedReceiver; Matthew S. Meza, partner and head of the energy practice at Halling Sokol + Meza, a boutique law firm specializing in real estate transactions and finance; and broker Scott L. Olson, president of C-Store Realty, a real estate firm focused exclusively on the convenience store and downstream fuel industry.

Bringing together almost 100 years of experience in receivership, brokerage and legal expertise under one roof, PCA provides turnkey assistance to lenders and note buyers in preserving and enhancing the value of the collateral for their loans. With service capabilities in California, Arizona, Nevada, Oregon and Washington state, PCA’s principals have been involved in the receivership, acquisition, disposition, leasing and financing of more than 675 stations with a total value in excess of $500 million.

“Our services are geared towards the preservation, maintenance and potential disposition of the distressed asset through the use of a court-appointed receiver and/or management of a lender-owned asset,” said Donell. “Gas station, car wash and convenience store assets present an often complex set of issues for the lender, and PCA provides its clients with a team of experts who can effectively deal with each unique asset.”

Meza commented, “Many lenders simply aren’t equipped to handle the complexities that gas stations present. A misstep in any one of these areas could have a significant impact on the value of the asset.”

From Conoco, 76, Chevron, Valero and Shell brands to jobber-owned sites and independents, the PCA team has experience with the delicate issue of de-branding and re-branding a site, or taking it independent. PCA has handled and supervised all aspects of such transactions, including: negotiating purchase and sale agreements; conducting title, survey and contract due diligence; addressing permitting issues; reviewing environmental compliance issues; addressing liquor license transfers and other issues; and negotiating and documenting the acquisition financing documents.

“The economic downturn has left a lot of lenders holding the bag on assets that are best handled by those with the expertise to protect their value,” Olson stated. “PCA will fill a critical niche in the marketplace.”