CRIC CAPITAL ACQUIRES 30 VALVOLINE PROPERTIES FOR

GREAT LAKES QUICK LUBE LIMITED PARTNERSHIP IN

SALE-LEASEBACK TRANSACTION

Leading Net Lease Company Acquires Service Center Portfolio in the Midwest

BOSTON — CRIC Capital, LLC, one of the nation’s leading investors in net lease and other credit real estate, announced today that it acquired thirty service centers that Great Lakes Quick Lube Limited Partnership will operate as Valvoline Instant Oil Change Service Centers. This acquisition brings CRIC Capital’s total portfolio transaction volume to nearly $300 million in the past eight months. Among others, CRIC Capital recently acquired portfolios from Apple American Group LLC, Penhall International, GasMart USA and Acapulco Mexican Restaurants.

“These properties are a smart investment for us and a great addition to our portfolio in large part due to the commitment from the lessee and the strength of its operations” said Marcy Axelrad, Principal of CRIC Capital, LLC. “Our capital combined with the experience and sophistication of Great Lake Quick Lube’s management team has created a winning relationship. We are continually impressed with the lessee’s professionalism and ability to drive business.”

The thirty service centers are located in Wisconsin and Illinois, primarily in the trade markets of Madison, Milwaukee, and Chicago. CRIC Capital funded the acquisition for Great Lakes Quick Lube Limited Partnership, a company that will operate the locations as a Valvoline lessee, pursuant to a long-term, triple-net lease. Great Lakes Quick Lube LP is one of Valvoline’s fastest-growing multi-state franchisees, with properties in Wisconsin and Illinois and plans to expand into other states in the region. This acquisition brings Great Lakes’ total number of stores under operation to forty-seven.

“We are excited about establishing ourselves as a major Valvoline franchisee,” said Jim Wheat, President of Great Lakes Quick Lube LP d.b.a. Valvoline Instant Oil Change (and former President of Jiffy Lube International and Group Vice President of Pennzoil Company). “CRIC Capital is an exceptional strategic partner. They give us the flexibility to substantially increase the size of our company into the one of the largest quick-lube chains in America.”

“It is our belief that the acquisition of this Valvoline franchisee system represents one of the best growth opportunities in the quick lube industry today based on the strength of the Valvoline and Valvoline Instant Oil Change brands, as well as the specific markets in which we are located and the strength of our team, including CRIC Capital,” said Stephen Dulong, Chief Manager of Great Lakes Quick Lube.

About Valvoline Instant Oil Change

Valvoline Instant Oil Change (VIOC), the second largest quick lubrication/oil change chain in the United States, provides oil changes and preventive maintenance for millions of customers annually through a total of 730 stores (355 company owned and operated and 375 franchisee operated). VIOC, established in 1986 as a division of The Valvoline Company, a subsidiary of Ashland, Inc., quickly ascended to one of the premiere businesses in the highest growth segment of the U.S. automotive services after-market. The Valvoline Company serves more than 140 countries worldwide and is a leading marketer, distributor and producer of quality branded automotive and industrial products and services.

About CRIC Capital, LLC

CRIC Capital, LLC combines the pioneering net leasing professionals of Boston-based Corporate Realty Investment Company L.L.C. with Prudential Real Estate Investors, the real estate investment and advisory business of Prudential Financial, Inc. (NYSE: PRU). CRIC Capital purchases real estate from and leases it back to investment grade and select below-investment grade companies through a variety of customized net leases. Net lease transactions allow corporations and organizations to strengthen their financial positions and free up capital to reinvest in their core business. Additional information about CRIC Capital is available on the company’s website at www.criccapital.com.

Contact:
Victoria Nessen Kohlasch
CRIC Capital, LLC
617-388-9862
vkohlasch@criccapital.com