Introduction:
Ascension Advisory is pleased to announce the recent completion of another sale leaseback transaction for Dirty Dog's Car Wash, a privately backed car wash group operating in the Southeastern United States who has partnered with Ascension on several occasions. Their strategic decision to partner with Ascension aimed to free up capital tied to the real estate asset, providing Dirty Dog's Car Wash with additional financial resources to reinvest in its business operations and foster further growth.
Client Objective:
Dirty Dog's Car Wash, a rapidly expanding leader in the car wash industry, collaborated closely with Ascension to optimize its capital structure by unlocking the inherent value within its new real estate asset located in Tampa, Florida. The primary goal was to release capital for business expansion while ensuring uninterrupted operations at the location.
Solution:
Leveraging their industry expertise and a robust relationship with a repeat buyer from Ascension and the Dirty Dog’s team, Ascension orchestrated a seamless sale leaseback transaction. This repeat buyer, recognized for their success in prior collaborations with Ascension, demonstrated a comprehensive understanding of Dirty Dog's Car Wash's objectives and the significance of the recently established location. Their competitive offer secured the site after multiple rounds of bidding.
Conclusion:
This sale leaseback transaction underscores the ongoing successful collaboration between Dirty Dog's Car Wash and Ascension Advisory. The latest deal empowers Dirty Dog's Car Wash to unlock substantial capital, reinvest in its core operations, and stay competitive in the ever-evolving car wash industry. The long-term leaseback agreement ensures operational continuity at the location, highlighting the tenant’s commitment to the site and establishing a solid foundation for future growth.