Capital Automotive Names David Gladstone to Board of Trustees
17 May 1999
Capital Automotive Names David Gladstone to Board of Trustees
MCLEAN, Va., May 17 -- Capital Automotive , the
nation's leading specialty finance company for automotive retail real estate,
today announced that David Gladstone has been named to fill the remaining
vacancy on the Board of Trustees, bringing the total number of trustees to 11.
David Gladstone, 56, is the Vice-Chairman of the Board of American Capital
Strategies, a buyout and specialty finance firm. Mr. Gladstone has over
24 years of experience in making loans to small and medium-sized businesses
and is considered an industry leader in venture capital investing. Prior to
joining American Capital, Mr. Gladstone was Chairman and CEO of Allied Capital
Corporation. Mr. Gladstone is also Chairman of Coastal Berry Company, a large
agricultural business. He is a Trustee of George Washington University, a
past member of the Listings and Hearing Committee at the National Association
of Securities Dealers, Inc. and a former director of Riggs National
Corporation. Mr. Gladstone holds a Master of Business Administration degree
from Harvard Business School, a Master of Arts degree from American University
and a Bachelor of Arts degree from the University of Virginia.
Thomas D. Eckert, President and Chief Executive Officer, stated, "David
brings a wealth of corporate finance and public company experience to our
Board. We expect that the Company will benefit greatly by leveraging his
experiences and expertise in the financial arena. We continue to build a
distinguished Board with diverse backgrounds while we expand our professional
networks in strategic areas. We are very pleased to have David join our Board
of Trustees."
Capital Automotive, headquartered in McLean, Virginia, is a
self-administered, self-managed real estate investment trust formed to acquire
the real property and improvements used by operators of multi-site,
multi-franchised automotive dealerships and automotive related businesses.
Additional information on Capital Automotive is available on the Company's web
site at http://www.capitalautomotive.com.
The matters discussed in this press release include forward-looking
statements. In addition, when used in this press release, the words "intends
to," "believes," "anticipates," "expects," "pro forma" and similar expressions
are intended to identify forward-looking statements. Such statements are
subject to a number of risks and uncertainties. Actual results in the future
could differ materially and adversely from those described in the
forward-looking statements as a result of various important factors,
including: the general economic climate, the supply of and demand for
automotive properties, interest rate levels, the availability of financing,
and other risks associated with the acquisition and leasing of properties,
including risks that the tenants will not pay rent or that operating costs may
be greater than anticipated, acquisitions that are pursued by the Company may
not be consummated for a variety of reasons, including the failure to reach
agreement with the seller and the other risk factors set forth in the
Company's filings with the Securities and Exchange Commission. The Company
undertakes no obligation to publicly release the result of any revisions to
these forward-looking statements that may be made to reflect any future events
or circumstances.