Ares Management Corp. has announced that funds managed by its Alternative Credit strategy and Real Estate Group have acquired Capital Automotive (CARS) from a Brookfield private real estate fund for $3.8 billion. This latest transaction highlights Ares’ increased focus on serving sponsors and companies in need of flexible net-lease solutions.
Headquartered in McLean, Va., CARS is a self-managed real estate company that provides highly tailored, sale-leaseback capital to automotive dealers in the United States and Canada to support them in acquiring new locations and upgrading facilities. The company owns a diversified portfolio of more than 250 high-quality, operationally essential real estate assets that are structured as long-term triple-net leases.
“Our net-lease capabilities sit at the nexus of our leading credit and real estate teams, providing us with a 360-degree view through which we can offer highly flexible net lease solutions,” said Joel Holsinger, par
