Brauvin Net Capital, LLC has acquired eleven Jiffy Lube oil change facilities in two separate transactions for a combined acquisition cost of $12.4 million. The assets are located in Illinois, Massachusetts and New York and have long term leases with Heartland Automotive ("Heartland"). Jiffy Lube is the market leader in the quick service lube/oil concept with just over 2,200 retail locations. Heartland is based in Omaha, Nebraska, and operates 431 stores. Heartland is the largest Jiffy Lube operator.
Eight of the properties have long term leases in place and three of the assets have short term leases. Brauvin's acquisition strategy is to negotiate a long term extension for these short term assets and to sell one of the assets with a long term lease in place with the first year of ownership.

These portfolio acquisitions will provide a combination of long term, stable cash flow with upside opportunity through the extension or recasting of property leases.