Genova Burns Closes $96 Million Sale-Leaseback Deal for Automotive Client

Genova Burns LLC successfully represented its car dealership client in a high-value sale-leaseback transaction involving a multi-property portfolio across Essex County, New Jersey, and Nassau and Suffolk Counties, New York.

On March 12, 2025, the client sold the underlying land for multiple dealership locations to a premier specialty finance company focused exclusively on automotive real estate for $96 million. As part of the transaction, the client entered into a long-term leaseback agreement with initial 25-year terms and options for extensions.

Led by firm Partner John Suwatson, Esq., Genova Burns’ Commercial Real Estate & Redevelopment legal team expertly navigated the complexities of the deal, handling all aspects of the property portfolio’s sale and lease agreements. The team negotiated transaction terms, facilitated a seamless closing, and addressed critical environmental considerations, ensuring a successful outcome for the client.

With a proven track record in sophisticated real estate transactions, Genova Burns continues to deliver strategic legal solutions that drive success for its clients. Mr. Suwatson can be reached via email here or at 973.535.4431.