How Matthews™ Built a $35M Car Wash and 7-Eleven Portfolio

Matthews™ helped a client build an approximately $35 million real estate portfolio through multiple acquisitions of car wash and 7-Eleven properties from different sellers. Leveraging both on-market and off-market opportunities, the Matthews™ agent sourced acquisitions that aligned with the client’s investment criteria, bonus depreciation objectives, and long-term strategy.

 

Challenge

Identifying suitable properties across multiple sellers required managing several transactions with different timelines and diligence requirements. Each acquisition needed to satisfy the client’s investment criteria while supporting bonus depreciation objectives and future disposition plans. To maintain a selective approach, the Matthews™ agent evaluated a substantial pipeline of opportunities against the client’s broader portfolio strategy.

 

Strategy

Leveraging Matthews’™ market coverage and industry relationships, the agent sourced on-market and off-market car wash and 7-Eleven opportunities from multiple sellers. Once suitable properties were identified, the Matthews™ agent coordinated with the client and third-party professionals to manage diligence, deadlines, and transaction requirements. Proactive oversight helped address potential obstacles while keeping multiple acquisitions progressing toward closing.

 

Result

Approximately $35 million in acquisitions were completed, allowing the client to achieve the broader portfolio strategy roughly four months ahead of schedule. Collectively, the properties aligned with the client’s investment criteria, bonus depreciation objectives, and anticipated future disposition strategy. Through disciplined evaluation and coordinated execution across multiple closings, the Matthews™ agent established an advisory relationship positioned to support the client’s continued portfolio growth.

 

Client Testimonial

I was referred to Chase by my accountant. He told me that several other clients had good experiences with him locating properties that qualify for bonus depreciation and tax benefits. I started working with Chase and his team in 2023. Since then, I have purchased approximately $35 million in real estate with a primary focus on gas stations and car washes. Prior to this time, I purchased and developed quite a few multi family properties in California and worked with several different brokers on those deals. I was accustomed to working with brokers that were always anxious to close deals. I was pleasantly surprised that Chase took the time to understand our investment goals and has consistently helped us identify opportunities that fit our strategy. We purchased six different properties through Chase and his team over the last several years. Prior to making those sales, I believe we looked at at least 40 to 50 properties. Chase took the time to evaluate each one of these properties to project out where they would be in several years while factoring multiple best and worst case scenarios. He discouraged me from purchasing some properties based upon his evaluation of the market and the projection of where it would be several years down the road. I valued his candor tremendously.

 

In each deal, Chase and his team managed several complex transactions from start to finish with deals that involved multiple moving parts. His team was proactive, responsive, and focused on finding solutions to keep the transactions moving towards closing. Chase and his team have proven their worth to us and have become trusted advisers. We look forward to continuing to work with them as we grow our real estate portfolio.