Last Updated: September 7, 2005 12:32pm ET

DRA Investors Take Auto REIT for More Than $3B

By Barbra Murray

MCLEAN, VA-Capital Automotive REIT commits to a merger agreement with a group operating under the advisement of New York City-based real estate investment management services provider DRA Advisors LLC. Capital Automotive will be acquired by the investors for $3.4 billion in cash payouts for common shares and the assumption of existing debt.

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