Flint real estate attorney Patric A. Parker, founding member of Simen, Figura and Parker, led a group of attorneys representing Serra Automotive in the acquisition of Tom Holzer Ford in Farmington Hills, Michigan. Tom Holzer Ford has been perennially one of the 20 largest volume Ford dealerships in the USA.
The successful business purchase was finalized on May 2, 2022 and released to the automotive press on May 6th.
Mr. Parker shared the buyer work on the acquisition of the business and real estate with Dawda Mann of Bloomfield Hills. The Simen, Figura and Parker group, including associate Chris Stritmatter, performed all of the real estate, title, survey, environmental, and financing aspects of the transaction.
The new dealership was renamed Serra Ford Farmington Hills.
This acquisition is the second major transaction for Serra in the last month. In April, Patric A. Parker represented Serra Automotive in the acquisition of Shelton Buick-GMC in Rochester Hills, Michigan from the owner Russ Shelton, this time handling the entire business asset purchase and real estate purchase.
Shelton Buick-GMC has been serving the greater Rochester community since 1958, and is the oldest dealership in Northern Oakland County. The dealership has been rebranded as Serra Buick-GMC Rochester Hills.
These two commercial real estate and business transactions follow the purchase of Buff Whelan Chevrolet in Sterling heights, Michigan by Serra Automotive in February, 2021. Buff Whelan is the nation’s highest volume Chevy dealership. The new dealership has been rebranded as Serra Whelan Chevrolet. Parker represented Serra Automotive in that acquisition, again performing all of the real estate, title, survey, environmental, and financing aspects of the transaction.
About Serra Automotive
Founded in 1973, privately held Serra Automotive is now the 5th largest private dealer group in the United States ranked by new vehicle sales volume. Based in Fenton, Michigan, Serra is comprised of 53 dealerships in 7 states and represents 65 automotive franchises throughout its 23 locations. Serra generated over $3 Billion of revenue in 2021 and employs approximately 2,500 associates.
About Patric A. Parker
Patric A. Parker devotes the majority of his practice to commercial real estate, business transactions, and business development matters. He has more than 40 years of experience in planning and implementation of buying and selling a wide variety of businesses.
Mr. Parker has provided commercial real estate law services to Serra Automotive, its founder Albert M. Serra, and its principal Joseph O. Serra, since 1985.