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Capital Automotive Reacquires Full Ownership of MTI Automotive Retail Net Lease Portfolio

September 15, 2026 8:15 AM Eastern Daylight Time

Transaction Consolidates 49 Properties Across 20 States into Wholly Owned Platform

MCLEAN, Va. – – (BUSINESS WIRE) – – Capital Automotive L.P. (“Capital Automotive” or “CARS”), a portfolio company of Ares Alternative Credit and Real Estate funds (“Ares”), announced today that it has completed the acquisition of its joint venture partner’s 90.01% interest in the MTI Portfolio, a 49-asset portfolio of automotive retail real estate. The transaction restores CARS’ full ownership of the MTI Portfolio following the sale of the interest in 2020. Ares acquired Capital Automotive in 2022.

“Given CARS has managed these properties throughout the joint venture, the transaction is seamless for our dealer partners, and we look forward to continuing to strengthen these relationships.”

The MTI Portfolio comprises 49 operationally essential triple net leased automotive retail properties totaling approximately 2.3 million square feet across 20 states, with its largest concentrations in the Southeast, Midwest, and Mid-Atlantic. The portfolio is diversified across brands and tenant groups, with meaningful representation from import and luxury franchises. Capital Automotive managed the portfolio throughout the joint venture period, so tenants should expect no change in day-to-day operations.

“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,” said Roger Stattel, Chief Executive Officer of Capital Automotive. “Given CARS has managed these properties throughout the joint venture, the transaction is seamless for our dealer partners, and we look forward to continuing to strengthen these relationships.”

Latham & Watkins LLP served as legal counsel to Capital Automotive on the transaction.

About Capital Automotive

Headquartered in McLean, Virginia, Capital Automotive provides customized sale-leaseback financing to the automotive industry since 1998. The company partners with dealer groups nationwide to fund acquisitions, construction and facility improvements, as well as estate planning and partner buyouts, while enabling dealers to maintain long-term control of their locations. For more information, please visit www.capitalautomotive.com.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2026, Ares Management Corporation’s global platform had over $671 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

Contacts

Media Contact: info@capitalautomotive.com

Source

Press release issued by Capital Automotive L.P. and distributed by Business Wire on September 15, 2026. View the original press release on Business Wire.

Capital Automotive Announces CEO Succession

January 04, 2024 7:45 AM Eastern Daylight Time

Jay Ferriero to retire from CEO position on February 15, 2024, and remains Chairman Emeritus through February 2025
CFO Roger Stattel to assume CEO position effective February 15, 2024
Dan Garces appointed to President and COO effective February 15, 2024
Erica Powers appointed to CFO, succeeding Roger Stattel effective February 15, 2024

VIRGINIA- Capital Automotive Real Estate Services, Inc. (CARS), a leading real estate company that provides sale-leaseback capital to automotive dealers throughout the United States and Canada, announces that after 25 years with CARS, President and Chief Executive Officer Jay Ferriero will retire as CEO. Consistent with the Company’s established succession plans, Mr. Ferriero will be succeeded by Roger Stattel as CEO and Dan Garces as President and COO, effective February 15, 2024. Messrs. Ferriero, Stattel, and Garces will work closely together to ensure a smooth transition for CARS as Mr. Ferriero assumes his new role as Chairman Emeritus.

CARS has also elevated Erica Powers, currently Senior Vice President, Treasurer and Chief Accounting Officer, to Chief Financial Officer, effective, February 15, 2024. Ms. Powers will assume the CFO role vacated by Mr. Stattel upon his elevation to CEO.

“Over the past 25 years, it has been an honor for me to have had the opportunity to collaborate with and lead an exceptional team at CARS. We have consistently achieved outstanding outcomes and we are prepared for greater achievements in the future,” stated Mr. Ferriero, the President and CEO of CARS. “Given the company’s strong position, I am confident the time is right to transition the role of CEO to Roger.”

Mr. Stattel commented, “I am honored to have the opportunity to lead CARS into the future. I am committed to building upon the strong foundation laid by Jay and working collaboratively with the talented team at CARS to drive continued success.”

Jay M. Ferriero joined Capital Automotive in February 1999 as the Company’s Director of Acquisitions and has served as COO, President, and CEO. Mr. Ferriero has forty-three years of experience in commercial, automotive dealership and real estate finance.

Roger Stattel joined Capital Automotive in 2016 and as the company’s Senior Vice President and Chief Financial Officer. Mr. Stattel has also handled the capital markets efforts for CARS and has helped structure and close ten securitization transactions for the company. Mr. Stattel has an extensive background and experience in real estate investment and management. Prior to 2016, he was the Director of Finance at DRA Advisors LLC, an investment advisor specializing in real estate investment and management.

Dan Garces joined Capital Automotive in 2002 as the company’s Portfolio and Loan Servicing Manager. Currently, as CARS’ Senior Vice President & Director of Acquisitions, he oversees new investments in the United States and Canada, and management of the company’s existing portfolio. Mr. Garces has over twenty-nine years of experience in commercial lending and structuring creative financing alternatives through sale-leasebacks with automotive dealers.

Erica Powers joined Capital Automotive in 2000 as the Assistant Controller, and has served as Controller, Treasurer, and since 2014, as Senior Vice President, Treasurer and Chief Accounting Officer. Ms. Powers has over thirty years of experience in the mortgage and financial industries.

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