Capital Automotive L.P. has completed the acquisition of its joint venture partner's remaining 90.01% stake in a 49-property automotive retail real estate portfolio, restoring full ownership of the assets.
The portfolio — known as the MTI Portfolio — comprises approximately 2.3 million square feet of triple net leased automotive retail space spread across 20 states in the Southeast, Midwest and Mid-Atlantic regions. It includes a mix of import and luxury franchise tenants, according to the company.
Capital Automotive, headquartered in McLean, Virginia, had previously sold a stake in these properties in 2020. Ares Alternative Credit and Real Estate funds subsequently acquired Capital Automotive in 2022. Ares Management Corporation reported over $671 billion in assets under management as of June 30, 2026.
Roger Stattel, chief executive officer of Capital Automotive, said the firm regained operational control of the portfolio during the joint venture period and expects no changes for tenants.
"We are pleased to bring these assets back under our full ownership, which allows us to completely oversee the asset management, financing and long-term strategy for this leading portfolio," Stattel said.
Latham & Watkins LLP served as legal counsel to Capital Automotive on the transaction. The company has provided sale-leaseback financing for automotive retail properties since 1998.
