In February 2017, Pontus completed a $71 million sale-leaseback on a portfolio of six auto dealerships (Toyota, Nissan, Chrysler, Infiniti, Hyundai and VW). As part of its purchase, Pontus agreed to provide 100% construction financing to fund the expansion and reimaging of several properties. The dealerships are located in California and are 100% leased under a long term, triple net master lease agreement.
Scott Stokas, Partner at Pontus commented: “We are very satisfied to complete this acquisition of a quality real estate portfolio with one of the largest automotive groups in California. Here, our flexibility and ability to act quickly contributed to a successful outcome and a favorable long-term solution for our tenant. A solution, that allowed the tenant to grow their business and to fortify their balance sheet at the same time.”
Pontus Capital opportunistically invests in and manages real estate secured investments on behalf of its private and institutional investors including in its growing net lease property strategy. As principals, the Pontus management team has acquired over $4 billion of net leased assets nationwide.