Cushman & Wakefield executed a $30 million sale-leaseback of a multi-shop Crash Champions property portfolio in the greater Chicago region. Managing director Jack Chang with Cushman & Wakefield represented the seller and sourced the buyer in the deal.
“We had the honor and privilege to work with Crash Champions on their growth strategy through this recapitalization transaction,” said Chang, an industry expert who has sold $150 million in collision properties in just the past two years.
Chang 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.
“In any deal, but more so in this current environment, communication and confidence in the deal is very important,” Chang said. “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.”
“Jack was able to set clear expectations for what the market would bring,” said Matt Ebert, CEO of Crash Champions. “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.”
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 to 39 locations in the past year. Crash Champions’ primary strategy is to focus on building new, ground-up developments or refurbish existing locations. Organic growth coupled with strategic acquisitions has allowed the company to grow efficiently and cost effectively.
Currently, Chang is also selling several other collision properties nationwide and multiple sale leaseback portfolios on behalf of other sellers and buyers.
