Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of BMW of Humboldt Bay in McKinleyville, California from Reza Lankarani to Victory Automotive Group
IRVINE, Calif., June 28, 2024 /PRNewswire-PRWeb/ -- Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of BMW of Humboldt Bay in McKinleyville, California from Reza Lankarani to Victory Automotive Group.
Founded in 1997, Victory Automotive Group operates over 50 locations across 10 states and represents over a dozen franchises. BMW of Humboldt Bay is the only location offering BMW, making for a terrific addition to the portfolio. Based on new vehicle retail sales, Victory Automotive Group is among the top-15 dealership groups nationwide according to Automotive News. Founder and President, Jeffrey Cappo, works alongside his sons, Eric and Michael Cappo, who are heavily involved in the day-to-day operations.
Following the transaction, Jeffrey commented, "I have purchased over 50 new car stores in my career. In the beginning, I stayed away from brokers. Since I met the Stopnitzky family at Performance Brokerage Services, I learned something from them...they are not looking for a sale like a broker, they are looking for a customer they can help to make an educated transaction. Their honesty, integrity and attention to detail are second to none. After doing several deals with them, I now know they only do deals one way…that is a win for the buyer as well as a win for the seller. I would recommend them to anyone looking to buy or sell a car dealership."
Over the last 5 years, Performance Brokerage Services has advised on the sale of over 300 dealerships, making it the highest volume dealership brokerage firm in North America. Jason Stopnitzky, Co-Founder of Performance Brokerage Services was the exclusive advisor for this transaction.
Jason shared, "It was a privilege to have represented Reza and his wife, Laura, in the sale of their family's dealership. Reza was a pleasure to do business with and has become a friend through the process. Jeffrey Cappo and Victory Automotive Group are sure to continue the customer-centric and family-owned philosophy." Jason added, "This marks our eighth transaction with Victory Automotive Group, having been a strategic partner of theirs for years. The Cappo family and leadership team embody integrity and professionalism, making every collaboration incredibly rewarding. We're excited to continue our journey together and look forward to exploring new opportunities with them in the near future."
Reza Lankarani owned and operated BMW of Humboldt Bay since 2006. Reza commented, "When I decided to sell my dealership after nearly 20 years, the decision to choose a broker to represent me was not taken lightly. I owned and operated a Chevrolet dealership previously and had hired two different firms to help me sell the franchise. My experience with those other firms was negative. I had spoken to Jason Stopnitzky throughout the years and based on his reputation, I chose to engage him to sell my BMW franchise. We had a very frank and honest conversation about my goals and the valuation of the dealership. Jason and his team worked with my wife and me to set a price that we felt was fair. Jason and his team prepared a professional package to propose to potential buyers, and in a very short period of time, Jason presented me with a very well-qualified buyer. The negotiation process was handled quickly and efficiently. Jason and his team worked seamlessly with my attorney and the buyer, and my transaction was closed within 90 days." Reza added, "I could not be happier with the end result. Jason supported me throughout the process, and I can honestly say that we formed a friendship that will last for years as a result. Having consulted and worked with several other brokers in my automotive career, I can wholeheartedly recommend Jason and his team at Performance Brokerage Services without any reservations."
BMW of Humboldt Bay will remain at its current location 1795 Central Avenue in McKinleyville, California.
About Performance Brokerage Services
Performance Brokerage Services, Inc. is North America's highest volume dealership brokerage firm, specializing in buy-sell activity for automotive, RV, commercial truck, powersports, and equipment dealerships.
With over 30 years of experience, 900 dealerships sold, and a 90% closing rate, the company's reputation is unmatched and governed by the utmost ethical conduct and integrity.
The company offers a unique approach by providing complimentary estimates of value with no upfront fees or retainer, no reimbursement of costs, and paid a success fee only after the transaction closes.
Headquartered in Irvine, California, and supported by 9 regional offices in Utah, Texas, Illinois, Florida, Virginia, Ohio, New Jersey, Alberta and Ontario, clients benefit from national exposure with local representation.
As trusted and respected experts in the field, the company utilizes an extensive network of industry related attorneys, accountants, hundreds of registered buyers, and longstanding relationships with various vehicle manufacturers.
For more information about the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.
Media Contact
Jason Stopnitzky, Performance Brokerage Services, 949.309.2815, [email protected], https://performancebrokerageservices.com
SOURCE Performance Brokerage Services
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