VADA Live S2:E29 | Dealership Real Estate, Capital & M&A Strategy (with Dan Garces)
Dealership real estate represents one of the largest single asset classes on an automotive group's balance sheet, but how dealers manage that equity can dramatically accelerate—or constrain—their ability to acquire stores, expand facilities, and execute succession plans . In this episode of VADA Live, host Dan Carrigan sits down with Dan Garces, President and Chief Operating Officer of Capital Automotive . Drawing on more than two decades of experience structuring automotive real estate and dealer financing, Garces breaks down how dealers can unlock idle property equity through sale leasebacks, the critical difference between underwriting dealership operations versus real estate, how to finance ground-up ad points without carrying early interest burdens, and how separating real estate from operations helps preserve capital during multi-store acquisitions and partner buyouts . In this episode: Unlocking Dealership Property Equity — How dealers can deploy real estate capital into higher-yielding operational investments and acquisitions . Operations vs. Real Estate Underwriting — Why strong store profitability does not shield a buyer from environmental liabilities, unrecorded easements, and zoning pitfalls . Separating Real Estate from Dealership Operations — How carving out real estate during multi-store acquisitions preserves millions in equity for blue sky and working capital . Funding Construction & OEM Facility Mandates — Comparing internal capital, bank construction loans, and 100% project funding models . Minimizing Ad Point Carry Costs — How capitalizing interest during 18-to-24-month ground-up builds shields store cash flow until the showroom opens . Structuring Succession & Partner Buyouts — A real-world case study of how a 50/50 partnership used a sale leaseback to fund a retiring partner and scale from 20 to 40+ stores . Resources & Links: Stream more episodes and access dealer resources: https://vada.com/live Learn more about Capital Automotive: https://capitalautomotive.com/ About Dan Garces: Dan Garces is President and Chief Operating Officer of Capital Automotive . With decades of commercial lending and dealer financing experience—including eight years with Comerica Bank's dealer finance division—Dan has spent over 24 years helping automotive retailers structure real estate capital solutions to support expansion and ownership transitions . Enjoying VADA Live? Please leave us a 5-star rating and review on Apple Podcasts or Spotify!








