Lithia Motors revs up South Florida dealership portfolio with $51M purchase

Lithia Motors expanded its South Florida portfolio after paying a combined $51.4 million for a pair of West Palm Beach dealerships.  In the larger deal, an affiliate of Medford, Oregon-based Lithia, led by Bryan Deboer, paid $27.9 million for Acura of Palm Beach, a 10-acre car retail site at 6870 Okeechobee Boulevard, records and real estate database Vizzda show. Another affiliate of Lithia acquired West Palm Beach Hyundai, a 5.4-acre dealership at 2301 Okeechobee Boulevard, for $23.5 million.  Oak Terrace, Illinois-based Ed Napleton Automotive Group sold the two properties to Lithia. Ed Napleton paid $7.5 million for the Acura dealership […]This article originally appeared on The Real Deal. Click here to read the full story.