Aries Capital Acquires Lyft’s Atlanta Driver Service Center for $7M

Chicago-based Aries Capital has launched its industrial net lease private equity platform with its acquisition of Lyft’s Atlanta Driver Service Center for $6.5 million.

The platform, helmed by CEO Neil Freeman, Brandon Perdeck, and Matt Carnet, targets triple-net and sale-leaseback opportunities in the lower-middle market, and focuses on transaction values between $5 million and $25 million.

One of nine facilities Lyft has opened across the country so far, the newly-renovated property offers heavily discounted vehicle repair and maintenance to drivers, among other tools. It is strategically located with frontage to I-75, and within four miles of Hartsfield-Jackson International Airport. 

“This transaction highlights Aries’ institutional approach to transacting in the fragmented lower middle-market at an attractive basis with strong in-place tenants,” said Freeman.