Funds managed by Ares Management Corporation’s Alternative Credit strategy and Real Estate Group have acquired Capital Automotive (CARS) from a Brookfield private real estate fund for USD3.8 billion.
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.
Ares’ dedicated net lease investment team brings deep industry experience combined with an integrated operating platform. The team focuses on high quality real estate and tenants while seeking to provide creative structuring and financing solutions in order to maintain maximum capital flexibility.
