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Sale and Leaseback of Crash Champions Portfolio

17.09.2020, 16:33

Sale and Leaseback of Crash Champions Portfolio

Cushman & Wakefield has executed a US $30 million sale leaseback of a multi-shop property portfolio in Greater Chicago in a transaction overseen by managing director, Jack Chang.

The deal was transacted during the COVID-19 pandemic by Cushman & Wakefield represented the client, Crash Champions as seller and additionally sourced the buyer.

Crash Champions, an auto body collision and paint repair company, is based in Chicago with operations in Illinois, California, and Ohio. The company has grown threefold from 13 locations to 39 locations in the past year. Crash Champions’ primary strategy is to focus on building new ground up development or refurbish existing locations. Organic growth coupled with strategic acquisitions has allowed the company to grow efficiently and cost effectively.

Chang who has sold US $150 million in collision properties in the past two years provided guidance on deal structure and leveraged his relationships with a large pool of qualified buyers to provide the seller with the best terms and guarantee of close.

He says: “We had the honor and privilege to work with Crash Champions on their growth strategy through this recapitalization transaction.

“In any deal but more so in this current environment, communication and confidence in the deal is very important. By presenting a compelling property story for buyers, we procured multiple competitive offers and were also able to execute on the portfolio with pre-COVID pricing for the seller.”

Matt Ebert, Crash Champions CEO, adds: “Jack was able to set clear expectations for what the market would bring. He helped put together a comprehensive marketing plan, relied on his wealth of experience, and connected us with a buyer exactly as expected. Jack made the process as easy as possible and kept the timeline moving quickly.” 

Chang is currently selling several other collision properties across the United States and multiple sale leaseback portfolios on behalf of other sellers and buyers.  

Author

  • Staff Reporter

    FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

CAMFIL HVAC Filtration Solutions

Staff Reporter

FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.
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