Driving the news: Dream Motor Group, owned by Joe Agresti, Nick Saban, and Steve Cannon, purchased two dealerships in Doral, Florida, from Bill Seidle’s Automotive Group in a deal that closed April 1.
For context: Dream Motor purchased Bill Seidle Nissan and Bill Seidle Mitsubishi, and the related real estate. The stores were renamed Nissan of Doral and Doral Mitsubishi.
The dealerships sit adjacent to one another along a commercial corridor in metro Miami, according to a release by The Presidio Group, which represented Dream Motor in the transaction.
Dream’s acquisition represents “a strategic expansion in one of the most active automotive retail markets in the country” for the group, Presidio said in its release.
Dream is owned by founder/CEO Agresti; Saban, the legendary football coach; and Cannon, former CEO of Mercedes-Benz USA. The group owns mostly luxury dealerships in multiple states, including Texas, Louisiana, and Alabama.
In South Florida, the group also owns Mercedes-Benz of Cutler Bay and Mercedes-Benz of Coral Gables.
What they’re saying: “Our family is proud to have been part of the South Florida automotive community for many years,” Michael Seidle, president of Bill Seidle’s Automotive Group, said in a statement. “...Wherever long-term plans for the location lead, Dream Motor Group will be great stewards of the legacy we built over the years…”
Bottom line: Presidio said the deal “reinforces the attractiveness of major Sunbelt markets for well-capitalized dealership buyers.”
“South Florida remains one of the most dynamic automotive retail markets in the country, and well-situated locations like these will always draw strong interest,” Alex Watterson, Presidio managing director, said in a release.
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, powered by:
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