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Mercedes-Benz dealerships owned by Bill Ussery sell for $150 million

The buyers were subsidiaries of the Dream Motor Group, whose CEO is Joseph A. Agresti of Spring, Texas.

Bill Ussery Motors has sold its Mercedes-Benz of Cutler Bay and Mercedes-Benz of Coral Gables dealerships for a total of $150 million. 

The price of the actual estate is reflected in the transaction value listed on the deeds. A source knowledgeable about the bidding claimed that the final cost exceeded $650 million.

Affiliates of the Dream Motor Group, whose CEO is Joseph A. Agresti of Spring, Texas, were the buyers.

The transaction involved the $55 million sale of the 143,716-square-foot dealership building at 310 Sevilla Ave. under the direction of CEO Robert W. Brockway, to BIJ Motors Coral Gables LLC, managed by Agresti. 

Then, for $45 million, Brockway/Valencia LLC, a subsidiary of Bill Ussery Motors, sold the 190,678-square-foot structure at 2801 Salzedo Street to the same entity. The 1973-built structure was once Coral Gables’ police headquarters before being transformed into a dealership several years ago.

Further south, Agresti-run BIJ Motors Cutler Bay LLC purchased the 155,837-square-foot Bill Ussery Motors of Cutler Bay LLC dealership at 10701 S.W. 211th St. for $45 million. Finally, for $5 million, Bill Ussery Motors Body Shop sold the 22,650-square-foot collision repair facility building to the same entity at 19191 S.W. 108th Ave, built in 2006.

The transaction was financed by a $200 million first mortgage from Mercedes-Benz Financial Services USA, plus a $50 million in seller financing as a junior mortgage.

These acquisitions are Dream Motor Group’s first dealerships in the state of Florida. Furthermore, they own Mercedes-Benz dealerships in Baton Rouge, Louisiana; Birmingham, Alabama; Hoover, Alabama; Nashville, Tennessee; and Woodlands, Texas. In addition, they hold a dealership for Infinity in Birmingham.

Nick Saban, the head football coach at the University of Alabama, is a co-owner of Dream Motor Group.

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Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

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