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Ares Management Pays $3.8B to Acquire McLean-HQed Capital Automotive
McLean, VA-based Capital Automotive, LLC, (CARS) has been acquired for $3.8 billion by funds managed by Ares Management Corporation’s Alternative Credit Strategy and Real Estate Group. CARS was purchased from a Brookfield private real estate fund.
CARS is a self-managed real estate company that provides highly tailored, sale-leaseback capital to automotive dealers in the US and Canada to support them in acquiring new locations and upgrading facilities. The company owns a diversified portfolio of over 250 high-quality, operationally essential real estate assets that are structured as long-term triple net leases.
According to Ares, the transaction highlights the company’s increased focus on serving sponsors and companies in need of flexible net lease solutions. Including the recent investment in CARS, Ares’ funds have invested in over 1,200 assets totaling approximately $7.2 billion of gross asset value in the US and Europe over the last 15 months. This includes net lease investments spanning retail, industrial and office assets leased to tenants with varying credit profiles.
- ◦Sale/Acquisition
- ◦Financing
