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Car wash properties are a rapidly growing investment niche in Southern California. While investors are finding a lot of benefits in car wash properties, but financing can be difficult to secure for those that don’t understand the asset. Ben Townsend and Matt Marlin from the SRS debt and equity team, however, have become experts in navigating the investment and finance market of this growing commercial real estate niche

“We started to see an increase in car wash development a couple of years ago and at the same time, saw investors running into issues with their financing,” Townsend, tells GlobeSt.com. “Lenders offered unfavorable loan terms, re-traded borrowers at the closing table, or refused to provide financing all together. We realized that these were not bad investments; lenders just did not fully understand the new business model. Car washes built today are well-oiled machines that are essentially e-commerce resistant. Lenders had been used to the mom-and-pop car washes that frequently went out of business or had environmental issues. These new car washes preform extremely well and are strategically located in high traffic count locations.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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