Capital Automotive LLC

Capital Automotive REIT operates as a finance company focused on automotive retail real estate. The company primarily purchases real estate, including land, buildings, and other improvements, which it simultaneously lease to operators of franchised automobile dealerships and motor vehicle service, repair or parts businesses, used vehicle businesses, and other related businesses under long-term, triple-net leases. As of March 31, 2005, the company had real estate investments of approximately 2.3 billion, primarily consisting of interests in 343 properties located in 31 states in the United States. The company has elected to be taxed as a real estate investment trust for federal income tax purposes and would not be subject to income tax to the extent it distributes at least 90% of its taxable income to its stockholders. Capital Automotive was founded in 1997 and is headquartered in McLean, Virginia.