Mercedes-Benz of SD Among Dealerships Sold to Brookfield

New York-based Brookfield Property Partners just picked up a massive portfolio--some 324--of auto dealerships across the country, including seven in Kearny Mesa, in a $4.28B transaction, the San Diego Business Journal reports. DRA Advisors sold the portfolio, which includes more than 215k SF, including Mercedes-Benz of San Diego. This is a new strategy for Brookfield, according to the SDBJ.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's San Diego Newsletters
Related Stories

TPG, ACORE Raise Billions For Opportunistic CRE Funds

Newmark Cuts Earnings Outlook Despite Record Third Quarter

Battered Mortgage REIT Suspends Dividend To Preserve Cash

Blackstone Mortgage Trust Reports Unexpected Q3 Net Loss

'Distress Is Finally Trading': Investors Chasing Big Discounts On Boston Office

Tyko Capital Sets New Record For Florida's Largest Construction Loan

Deutsche Bank's Asset Manager Needs To Sell To Meet Redemptions. Here's What It Owns

JLL's Q3 Revenue Surges Amid Strong Leasing, Capital Markets Activity

Fed's Pause Gives CRE Little Relief As Yields, Midterms Freeze Deals

Prologis To Develop 3.8M SF Industrial Park On Former Casino Site

GID, StepStone Complete $985M Secondary Deal For Industrial Portfolio

Developers Up Sunny Isles Beach St. Regis Debt Again With $463M Loan