Wiesenthal Autohandels AG sells portfolio of Motor-Car Group showrooms in Slovakia and the Czechia
Wiesenthal Autohandels AG has successfully sold its Motor-Car Group portfolio of 11 showrooms in Slovakia and the Czech Republic to LCN Capital Partners, a leading real estate investment firm that specializes in originating primary sale-leaseback, built-to-suit transactions, and managing its commercial real estate properties leased to leading companies in their respective industries. The transaction took place in connection with the sale of the operational business of Motor Car Group to Hedin Mobility Group AB in May 2022 within the exit strategy of Wiesenthal Autohandels AG.
The sale of seven properties in Slovakia and four properties in the Czech Republic, anchored by a German premium car brand, was structured as a sale and leaseback transaction, with Motor-Car signing a long-term, triple-net lease agreement.
"We are pleased to have successfully completed the sale of our Motor-Car Group showrooms in Slovakia and the Czech Republic to LCN Capital Partners, as part of our exit strategy. We are confident that our properties are in good hands with a leading real estate investment firm like LCN Capital Partners," said Henrik Starup-Hansen, CEO, Wiesenthal Autohandels AG.
"We are excited by our entry into Slovakia and Czech Republic and the opportunity to partner with Motor-Car and Hedin on these profitable and growing car dealerships. We would like to extend our thanks to the seller for the professional cooperation throughout the entire process," said Paolo Rosso, LCN Capital Partners.
The sale of the portfolio was supported by CBRE, which acted as an exclusive advisor to Wiesenthal Autohandels AG.
"We are delighted to attract another international newcomer, LCN Capital Partners, to the Slovak and Czech markets in this significant transaction, and to support Wiesenthal Autohandels AG in their exit strategy. This proves that the Slovak market is still attractive for foreign institutional capital," said Marian Mlynarik, Senior Director, CBRE.
Motor-Car Group will continue to provide all customer service and sales activities at these locations.