Ares Management Acquires Capital Automotive (CARS) from Brookfield for $3.8 Billion
February 8, 2022
Funds managed by Ares Management Corporation's Alternative Credit strategy and Real Estate Group acquired Capital Automotive LLC (CARS) from a Brookfield private real estate fund for $3.8 billion. CARS, headquartered in McLean, Virginia, owns a portfolio of more than 250 net-lease automotive dealership properties across the U.S. and Canada; the acquisition expands Ares' net-lease capabilities and increases its net lease gross asset value to more than $7 billion over the prior 15 months.
- Buyers
- Ares Management Corporation, Funds managed by Ares' Alternative Credit strategy and Ares Real Estate Group
- Targets
- Capital Automotive LLC (CARS)
- Sellers
- Brookfield private real estate fund
- Industry
- Real Estate
- Location
- Virginia, United States
- Transaction Type
- Buyout
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