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Blake Capital Group is a real estate investment and private equity wealth manager with extensive experience in Real Estate, Car Washes, and Private Equity investments.
Blake Capital Group selectively targets investments in multifamily, self-storage, car wash, and industrial as a sponsor and an equity investor. Current and prior acquisitions total over $2.4B and span over 9,000 multifamily units, 2,795 of which have been exited, yielding an average historical IRR of 41%.
The firm leverages an extensive track record and a deep network of industry relationships to source co-GPinvestments and direct acquisition opportunities. Investors benefit from using repeat property management firms, contractors, and other third-party service providers, which generate higher returns through economies of scale and promote continuity of service across investments.
Key Operating Partner
Chief Operating Officer
AQUASHINE EXPRESS
Keith Lawrence serves as Chief Operating Officer for Aquashine Express Car Wash, a QC Capital Company. Mr. Lawrence is responsible for all aspects of Aquashine Express Car Wash operations, hiring, training, financial tracking and operational excellence.
Mr. Lawrence has over 10 years of experience in the car wash sector with a proven track record of building a national car wash brand from inception to over 70 sites all over the nation. Mr. Lawrence began his car wash career in 2014 after successfully building and operating his own wash for years as a full service & detail business model that was later converted to the express business model. The wash was later acquired by a growing private equity firm who retained Mr. Lawrence to oversee the portfolio’s operations, expansion, construction, site selection and design layout. The brand that Mr. Lawrence helped build is now ranked the 4th largest car wash operator in the nation.
In addition to his operational acumen, Mr. Lawrence has worked tirelessly to develop and implement many personal growth strategies for all of his employees including seminars on High Level Leadership, Organization & Communication, Personal Finance, Conflict Resolution and Customer Service: Turning customers into raving fans.
Car Wash Fund II Investment Summary
INVESTMENT SUMMARY
Structure
Sample Projected Returns
*Based on investing the minimum amount for each class on a 5 year hold
**Projected returns are based on projected assumptions for these properties and can be subject to change.
Accelerated Depreciation Opportunity
Business Plan
● Rebrand and Revitalize: Launch a full rebranding and update the property with new paint and parking lot restriping.
● Enhance Operations: Build a strong on-site team and streamline operations to deliver top-tier service.
● Elevate Customer Experience: Focus on delivering a superior experience to justify premium membership pricing.
● Boost Marketing Efforts: Increase visibility and drive traffic through targeted marketing strategies.
● Strong Investor Returns:At the projected Year 5 refinance, investors are expected to be fully paid out with no depreciation recapture, maximizing after-tax returns.
3 Major Car Wash Types
In-Bay Automatic/ Self Service
Full Service
Express Tunnel
In the car wash market, three primary types stand out: express tunnel, in-bay automatic, and self-service. Self-service demands customers to clean their vehicles themselves, lacking convenience. In-bay automatic options have limitations in the number of cars they can efficiently wash per hour, impacting throughput. Express tunnels merge the ease of automatic service with impressive efficiency in handling a large volume of vehicles. They provide a balance of convenience and high throughput, making them a preferred choice for many seeking a quick and effective wash.
Express tunnels are the fastest growing segment of the car wash industry. These systems utilize a series of automated machines and processes, swiftly guiding vehicles through a predetermined sequence of cleaning stages. These systems are known for their efficiency, handling multiple cars simultaneously and delivering a quick yet thorough wash in a matter of minutes. The conveyor belt technology in express tunnels are valued for their ability to maximize throughput and reduce wait times for customers. These wash systems often incorporate advanced technologies for precise cleaning, making them popular choices for car wash businesses aiming for speed, efficiency, and quality service.
3055 W New Haven Ave., Melbourne, FL
Site Specifications
Acquisition
126 Ft. Express Tunnel NNN Oil/Lube Annual Rent: $132,500
The Melbourne metro area, located in Florida's Space Coast, is a strategic and thriving region for launching a car wash business, with robust economic activity and growing demand for services. Known for its aerospace industry, the area houses NASA's Kennedy Space Center, Cape Canaveral Air Force Station, and major players like SpaceX, Boeing, and Lockheed Martin. The recent establishment of the U.S. Space Force STARCOM headquarters at Patrick Space Force Base is expected to bring an influx of high-income professionals, expanding from 800 to 1,500 employees by 2026. Additionally, Melbourne's manufacturing sector is booming, with GenH2 investing $35 million in a new headquarters. The city boasts a 3.6% unemployment rate, lower than the national average, and is ranked as one of the nation's top places to retire, reflecting its strong housing market and quality of life. Melbourne Orlando International Airport, the fastest-growing aviation hub in the U.S., employs over 20,000 people and is undergoing a $72 million expansion. This combination of economic drivers, affluent workforce, and high commuter traffic makes Melbourne, FL an ideal location for a car wash business to thrive.
The Atlanta MSA, as highlighted by CoStar Market Reports, offers significantly lower living and business costs compared to major East and West Coast metros, fueling its population and job growth. From 2022 to 2023, the region ranked third in year-over-year population growth, surpassing Washington, D.C., and Philadelphia, driven by strong in-migration and cost-saving opportunities for employers without compromising access to high-quality labor. Atlanta's position as a major regional and national distribution hub, coupled with its proximity to the fast-growing Port of Savannah, ensures long-term economic advantages. Paulding County, part of this dynamic region, has established itself as a hub for key industries. Aerospace and aviation thrive with over 800 companies statewide, generating $57.5 billion in economic impact, including aerospace and defense manufacturing in Paulding. The automotive supply sector, contributing over $3 billion to Georgia’s economy, is bolstered by more than 200 companies that have chosen the state for manufacturing and innovation since 1909. Additionally, the machinery and equipment manufacturing sector in Paulding features prominent employers like Interroll and accounts for over 10% of the local workforce, offering above-average annual wages.
9331
Site Specifications
Acquisition
70 Ft. Express Tunnel
54,500 Annual Average Daily Traffic
Built in 1990
Purchase Price: $2,100,000
According to CoStar Market Reports, Charlotte regularly ranks as one of the fastest-growing metropolitan areas in the United States. Thanks to a temperate climate and diverse economy, Charlotte has become a destination for newcomers from throughout the country. Since 2010, population growth here has doubled the national average, and the area has added more than 500,000 new residents. A growing job market drives most moves to the area, and the financial services and corporate headquarters sectors are major drivers here. As home to the headquarters of Bank of America and Truist, as well as the largest employment center for Wells Fargo, the financial services industry is a key economic contributor. By some accounts, financial jobs make up about 8% of jobs but nearly 20% of income here. As a result, wages here are higher than the national average, and the median household income of around $80,500 annually is about 3% higher than the national average, even as costs of living remain at or slightly below national rates. Home prices here are about 2% lower than the national average on a per-square-foot basis, for example.
DEBT FINANCING*
Strategic Capital Is Fueling Car Wash Growth
Major private equity firms are increasingly entering the car wash industry, with KKR’s recent investment serving as a clear signal of confidence in the sector. In June 2024, KKR & Co. announced an $850 million strategic investment in Quick Quack Car Wash, one of the nation's fastest-growing express car wash chains with over 230 locations across five states.
This partnership is aimed at accelerating Quick Quack’s growth and operational capabilities, highlighting the car wash industry’s strong appeal as a scalable, recession-resistant asset class.
● Quick Quack’s proven model and 230+ locations make it an ideal platform for national expansion.
● The deal validates the car wash industry as a viable alternative investment opportunity.
Why Car Washes are Booming
● 83% of Americans who own or lease a vehicle used a Professional Car Wash (PRO) at least once in the past year. This is the highest percentage of PRO washers since the ICA conducted its first U.S. Consumer Study in 1996.
● Home washing declined in popularity. The fact is, we live a world where convenience and quality are paramount. This is clearly evidenced as at-home washing (DIY) declined dramatically, from 54% in 2016 to 42% in 2019. Car washes could not be more on-trend.
● The desire for convenience and quality reached an all-time high among past-year car wash consumers. 77.5% chose a PRO wash most often while DIY most often declined to just 22.5%. This increase in the mix of PRO most often versus DIY most often is in sharp contrast with the mix just three years ago.
● The health of the U.S. economy is huge. The confluence of record-low unemployment, strong consumer confidence and a 40-year-high in new vehicle sales were instrumental.
● Car Wash price/value is both fair and reasonable. Only 23% of all consumers expressed any dissatisfaction with the price paid per wash.
● New vehicle owners are passionate about keeping their new vehicle looking new. 57% of new vehicle owners (3 years old or newer) wash their vehicles at a car wash once a month or more often compared to 44% of owners of vehicles more than 10 years old.
● The passion for a clean car is rational and logical. 59% of Americans believe that washing a vehicle is an important and necessary part of routine maintenance. It protects the value of their vehicle, prevents rusting and is part of regular vehicle maintenance.
● But even more so, the deepest passion lives in the heart. 86% say that “a clean vehicle makes me feel good” while 78% see it as “a good reflection on me.”
● The love of a clean car is fueling unlimited wash programs. 14% of consumers claim to be members. The upside potential to drive membership is huge and another reason to be buoyed.
● The desire for convenience extends to location. The growth of the industry is making car washes more convenient to find. Greater penetration and visibility triggers both the rational and emotional desire to have their vehicle look its best.
Investor Expectations
How to Invest: Accredited Investors
Please follow the steps below to make your investment in this offering.
1. Create Account Register through our investor portal on blakecapitalgroup.com 2. Soft Commit Make a soft commitment 3. Accreditation Letter
4. Make a firm commitment by completing the subscription agreement Firm Commit
Upload or obtain a third-party accreditation letter in the portal (free verification available)
Wire Funds
Wire in your investment amount. Wiring instructions can be found in the portal.
Please complete the paperwork as soon as possible. Remember, completing the paperwork will indicate your intention to invest; however, it does not guarantee a spot in the deal. You are expected to fund your investment within 3 days of signing. At this point, it will be a first-come, first-serve opportunity based on when funds are received. If you need assistance in finalizing your investment, or have any additional questions, please reach out to Rob@BlakeCapitalGroup.com
