The Buyout Show with Fexingo · 2026-08-12 · 9 min
In this episode, Lucas and Luna look at a quiet corner of the consolidation boom: parking lots. Private equity firms have been buying up surface lots and garages in major cities, betting that demand for parking will outlast the ride-share and remote-work shakeups. Lucas explains the economics of the roll-up, from the fragmented mom-and-pop ownership to the surprisingly stable cash flows that make these assets attractive. He walks through how a typical deal works, the role of dynamic pricing apps, and the counterintuitive math that makes a parking space worth more than the car parked in it. Luna pushes back on the sustainability of the model, and they debate what happens when cities start to deprioritize cars. Along the way, they mention a few real operators - LAZ Parking, SP+, and others - and unpack why the industry is suddenly on every middle-market fund's radar. If you've ever wondered who owns the lot you park in, this episode gives you the answer - and explains why that owner is increasingly a private equity firm.
Other episodes covering the same guests and topics, from across The B2B Podcast Index.
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