Capital Automotive Prices Public Offering of 1,825,000 Common Shares
MCLEAN, Va., Feb. 4, 2004 -- Capital Automotive REIT , today announced that it has priced a public offering of 1,825,000 of its common shares at $35.40 per share. The offering is expected to close on February 9, 2004. The Company also has granted the underwriters an over-allotment option to purchase up to 273,750 additional shares. All of the common shares are being sold by the Company.
Credit Suisse First Boston, Friedman Billings Ramsey and Citigroup are joint bookrunners and joint lead managers. Copies of the prospectus supplement may be obtained from the offices of Credit Suisse First Boston, Prospectus Department, One Madison Avenue, New York, New York 10010, telephone: 212-325-2580, or by faxing your request to 212-325-8057, or from the offices of Friedman Billings Ramsey, Syndicate Department, 1001 Nineteenth Street North, Arlington, Virginia 22209, telephone: 800-846-5050, or from the offices of Citigroup Global Markets Inc., 140 58th Street, 8th Floor, Brooklyn, New York 11220.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.
About Capital Automotive
Capital Automotive, headquartered in McLean, Virginia, is a self- administered, self-managed real estate investment trust that acquires real property and improvements used by operators of multi-site, multi-franchised automotive dealerships and related businesses. Additional information on Capital Automotive is available on the Company's Web site at http://www.capitalautomotive.com/.
Contact Information David S. Kay Senior Vice President, Chief Financial Officer and Treasurer Capital Automotive REIT 703.394.1302