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Capital Automotive REIT Announces Executive Appointments

1 December 1997

Capital Automotive REIT Announces Executive Appointments

    ARLINGTON, Va., Dec. 1 - Capital Automotive REIT announced
today the appointment of the executive team that will manage the company's
operations following its initial public offering. Capital Automotive REIT will
be the first publicly offered real estate investment trust (REIT) formed to
acquire and lease back real property and improvements for use by automobile
dealers.
    John J. Pohanka, currently Chairman of The Pohanka Automotive Group, has
been appointed Chairman of the Board of Capital Automotive REIT.
    Thomas D. Eckert, formerly President of Pulte Home Corporation - Mid
Atlantic Region, has joined Capital Automotive REIT as President and Chief
Executive Officer.  Mr. Eckert will also serve on Capital Automotive REIT's
Board of Trustees. In addition, Mr. Eckert serves on the boards of The Munder
Fund and the Celotex Corporation.
    Scott M. Stahr, formerly a Principal at LaSalle Partners, Inc. in Chicago,
has joined Capital Automotive REIT as Executive Vice President and Chief
Operating Officer.
    David S. Kay, formerly of Arthur Andersen LLP, Washington, D.C., has
joined Capital Automotive REIT as Vice President and Chief Financial Officer.
    Donald L. Keithley, formerly Partner in charge of Dealer Relations at J.D.
Power and Associates in Los Angeles, California, has joined Capital Automotive
REIT as Executive Vice President of Business Development.
    Capital Automotive REIT's strategy is to acquire a diversified portfolio
of automotive properties throughout the United States, primarily occupied by
new and used motor vehicle retail dealerships, and related businesses. The
company intends in each case to lease back the properties to their operators
or affiliates on a long-term triple-net basis. The company has entered into
agreements to acquire a total of 21 parcels of real estate and related
improvements from the following dealership groups: The Pohanka Automotive
Group, the Rosenthal Automotive Organization, the Sheehy Auto Stores and the
Cherner Automotive Group.

SOURCE  Capital Automotive REIT