Ascension Secures $6.2M Build-to-Suit Financing for Dirty Dog's Car Wash

Ascension Advisory is excited to announce the recent completion of a build-to-suit sale leaseback transaction for Dirty Dog's Car Wash, a prominent car wash group in the Southeastern United States. As a repeat client, this marks the fifth successful collaboration between the Ascension and Dirty Dog's teams.

Client Objective:

Dirty Dog's sought to maximize financial flexibility for the business by partnering with a build-to-suit provider for the construction of their new flex facility to be constructed in Woodstock, Georgia. Dirty Dog's primary objective was to secure a financing commitment for 100% of the project cost while ensuring the long-term operation and control of the new, tailor-made location.

Solution:

Drawing on deep industry knowledge and leveraging their ability to design creative financing structures, the Ascension team facilitated a seamless build-to-suit structure. The selected investor, having successfully collaborated with Ascension in the past, understood Dirty Dog's operational needs for the site and the importance of the upcoming location. After multiple competitive bidding rounds, this investor's offer was selected.

The build-to-suit structure provides several distinct advantages for Dirty Dog's:

• Tailored Design: The new property will be constructed to meet the exact operational specifications of Dirty Dog's Car Wash, ensuring maximum efficiency and effectiveness of the location.
  
  
• Financial Efficiency: This structure allows Dirty Dog's to sidestep the large initial outlay typically required for new construction.
  
  
• Operational Control: The long-term lease agreement allows Dirty Dog's to maintain control over the purpose-built facility while converting real estate equity into working capital for the business.

Conclusion:

This build-to-suit marks another milestone in the successful partnership between Dirty Dog's Car Wash and Ascension Advisory. The transaction generated significant capital for Dirty Dog's, while the long-term leaseback arrangement guarantees future operational stability at the custom-designed site, underscoring the tenant’s commitment to this location.