Road Asset Management

Asset focus

Three roadside asset classes we have owned and run.

Gas stations & convenience

Fuel-led convenience sites on high-traffic corridors, branded and unbranded, fee simple and leasehold.

Fuel-led formats · Corridor locations · Convenience & food upgrades

Truck stops & travel centers

Diesel-anchored sites serving freight and long-distance travel, with food, parking and driver services.

Interstate & freight corridors · Diesel volume · Driver amenities

Car washes

Tunnel, in-bay and self-service washes on strong traffic sites, increasingly driven by recurring membership revenue.

Tunnel · In-bay automatic · Self-service

Complementary roadside assets Selectively, drive-thru restaurants and EV charging where they strengthen a portfolio's income.

Tax-aware ownership

Built around depreciation-intensive real estate.

Roadside assets are among the most equipment-intensive properties in commercial real estate. Fuel systems, canopies, wash tunnels and site works are depreciated far faster than an ordinary building, and gas stations that qualify as retail motor fuel outlets can be depreciated over 15 years rather than 39.

Under current federal law, qualifying property acquired and placed in service after January 19, 2025 is eligible for 100% bonus depreciation. The benefit depends on each investor's tax position.

Independent cost segregation

Engineering-based studies commissioned before closing, with land values and purchase-price allocations supported by appraisal.

Site-by-site classification

Every building is tested against the classification rules before we price the benefit, and leases require the reporting needed to support it.

Structured with counsel

Each vehicle is set up with tax counsel from day one so that depreciation is allocated to its partners.

Tax treatment depends on each investor's circumstances and on current law, which can change. Nothing on this site is tax advice; investors should consult their own advisors.

Full-service ownership

Partners share in the rent and depreciation. We handle the work.

Partners share in the rent and depreciation of each property. Our team manages every tenant and property from acquisition to exit, and runs the full transaction and tax process on every deal.

Tenant & property management

  • Rent collection and distributions to partners
  • Lease compliance: taxes, insurance, maintenance and environmental obligations
  • Site inspections and capital planning with each tenant
  • Ongoing monitoring of tenant financials and site-level performance
  • Renewals, options, amendments and, where needed, re-leasing

Transaction & tax execution

  • Engineering-based cost segregation reports commissioned before closing
  • Land appraisals and purchase-price allocation support
  • Environmental, title and survey diligence on every site
  • Lender sourcing, negotiation and loan management
  • Annual K-1s, depreciation schedules and partner reporting

Our advisor panel

A recommended panel of specialists who know roadside real estate, available to every partner. Partners remain free to use their own advisors.

Legal · Tax & accounting · Cost segregation engineers · Environmental consultants · Property & valuation · Lenders

How we invest

Portfolio by portfolio, alongside our partners.

Net-lease portfolios

Sale-leasebacks with established regional operators on long-term, absolute net leases. The operator runs the site; we own and manage the real estate.

We typically pursue portfolios of $15 million to $100 million. Each is held in its own vehicle, owned by a small number of private partners and managed by us on their behalf.

  1. 01

    Source

    Direct relationships with owner-operators, brands and suppliers.

  2. 02

    Underwrite

    Site-level P&Ls, fuel volumes, environmental and real estate diligence.

  3. 03

    Structure

    Financing, leases and ownership vehicles designed with counsel from day one.

  4. 04

    Manage

    Tenant oversight, lease compliance and capital planning, informed by operating experience.

  5. 05

    Report

    Transparent, regular reporting to every partner.