CBRE Expands National Auto Dealerships Capital Markets Practice

CBRE announced today the expansion of the company’s Auto Dealerships Capital Markets practice through the hiring of First Vice President Joseph “Joe” Connolly.

Mr. Connolly joins Executive Vice President James Mitchell and Vice President Erin Rice, who are based in CBRE’s Washington, D.C. office and specialize in the unique representation of automotive dealerships. Mr. Connolly will be based in CBRE’s Newport Beach office in California, creating a bi-coastal presence for the team.

Together, all three professionals will work closely together and across CBRE’s national platform to provide an array of business solutions and services to their automotive clientele, including buy/sells, debt & equity procurements, debt workouts, and real estate finance alternatives. With a 32-year history of providing complex finance packages for buy/sells, floorplan, real estate, and workouts, Mr. Connolly commands unparalleled experience in dealership finance and real estate, making him uniquely positioned to work directly with dealer principals throughout the U.S.

Mr. Connolly joins CBRE from BMO Harris Bank, as Managing Director of the firm’s Dealer Finance group, where he managed a portfolio of loans to retail automotive dealers in the Western U.S. During a 10-year period, he grew the portfolio from $55 million to $1.5 billion.

“We’re thrilled to welcome Joe to CBRE,” says Executive Vice President James Mitchell. “We’re continuing to expand our national practice and leverage CBRE’s broad platform and capabilities to provide the best outcomes for our automotive clients across the country.”

Prior to joining BMO, he worked for Capital Automotive Real Estate Services, Inc. (CARS) procuring and transacting on dealership sale-leaseback transactions in the Western region of the U.S. Joe began his career with Comerica Bank in 1991 and began originating automotive loans in 1994 in Florida and from 1998-2001 in California.