
What is the Opportunity Fund?
PPR Capital Management’s Opportunity Fund is designed to offer accredited investors attractive, diversified opportunities with strong returns. The fund’s strategy revolves around investments in high-growth markets and income-producing real estate assets, with the added benefit of tax advantages.
Here are the key features of the fund:
- Significant Bonus Depreciation: Investors can benefit from bonus depreciation, allowing them to offset passive income, making this an appealing option for those seeking to minimize tax obligations.
- Direct Ownership of Real Estate & Cash-Flowing Businesses: The fund allows investors to have direct ownership stakes in both real estate and businesses that generate cash flow, offering a combination of stability and growth.
- 10% Accruing Preferred Return
- 18–24% Total Targeted Returns
- High-Growth, Tax-Efficient Locations: The fund focuses on high-growth markets, particularly those with favorable tax conditions, ensuring long-term value creation and tax efficiency.
Why Car Washes?
The Opportunity Fund taps into the booming $10B+ car wash industry through a strategic partnership with Tommy’s Express Car Wash and Olympus Pines, the franchise’s largest operator. With a tech-enabled model, real estate-backed assets, and strong consumer demand even in uncertain markets, this fund is designed for investors seeking growth, income, and tax efficiency.
Consumer behavior in the car wash sector shows remarkable consistency and growth. Industry data reflects that most consumers intend to maintain or increase their wash frequency, and customer satisfaction levels remain high. This highlights the subscription-based nature of the business model, making it a stable and scalable investment category.

What sets this Fund Apart
Unlike funds that buy and rebrand existing car washes, we are building a portfolio from the ground up. This ensures consistency across facilities and positions the portfolio for acquisition by institutional buyers seeking standardized, cash-flowing assets.


Car Wash Fund Frequently Asked Questions
1. What is the PPR Opportunity fund and how is this different from PPR’s Income Fund Offering?
This is a 3(c)(1) equity fund (limited to 100 investors) focusing on the acquisition and development of Tommy’s Express Car Washes in high growth markets. Our strategy is to grow our portfolio of car washes within 5-7 years, aggregating them to appeal to a large institution as there is substantial demand for such portfolios by private equity institutions. This is not intended as a long-term hold investment, but rather build and sell. On the other hand, PPR’s Reliant Income Fund invests in a diverse set of real estate investments within the housing sector, offering a flat preferred return and aiming to preserve capital.
2. How are investor returns generated in the Opportunity Fund?
Investor returns are derived from both the net operating cash flow of the car washes in the Fund as well as the equity appreciation realized upon exit (which we anticipate being the majority of the overall return on investment). The projected total return is based on our latest market intelligence of similar assets, which have recently transacted at values ranging from 16 to 24 times their adjusted earnings.
See Projected Returns on Page 9 and 10 of the Investment Summary.
3. How many car washes will be in PPR’s Opportunity Fund?
There will be 7 car washes in the fund, however, Olympus Pines is on track to build a portfolio of 50+ car washes in which investors will benefit from the exit multiple of the entire portfolio. (The scale of the entire portfolio historically drives up the sales price of all car washes vs. selling as single site or a small portfolio).
4. Why would private equity institutions be interested in a portfolio of express car washes?
Historically, private equity institutions have been interested in nearly any industry that demonstrates low-risk, predictable cash flows coupled with substantial upside. Until recently, car washes did not fit this model – their cash flows varied significantly depending on weather conditions and the local market, making them unattractive for bulk Wall Street investment. Over the past decade, however, the car wash industry has evolved to the subscription model and implemented substantial technological improvements that have increased operating margins. A geographically diverse portfolio of modern car washes, with expenses minimized powered by modern technology and revenue derived from predictable monthly memberships, is now exactly the type of bulk investment sought after by private equity firms worldwide.
5. What makes PPR confident it can execute on the Opportunity Fund’s business model?
PPR’s operating partner, Olympus Pines, is one of the largest developers and operators of Tommy’s Express car washes. The team consists of operations professionals with decades of combined experience in the car wash space and has proven experience both operating stabilized car washes and bringing them through development to stabilization.
6. What are the risks of investing in PPR’s Opportunity Fund?
As with all real estate, location is key. PPR and Olympus Pines work closely with the analytical team at Tommy’s to help identify attractive, high growth markets to grow our portfolio. The team focuses on Class A locations within those markets. While Tommy’s Express business model has already proven to be successful, we maximize risk mitigation and focus on locations with the highest probability to succeed (see details on site evaluation process on page 7 of the investment summary). As with any operating business, there are also ongoing performance risks. The team at PPR and Olympus Pines continuously monitor performance of the operating sites and apply marketing tactics that drive subscriptions across the portfolio.
7. Are there tax benefits to investing in an operating business backed by real estate?
Yes. The car washes in the fund are eligible for accelerated depreciation benefits. These benefits will be realized once the locations are operational and will be passed on to investors. Note that this is a development fund, and we expect it to take 12-24 months for each site to become operational. Due to unpredictable changes in the tax code, we do not provide exact depreciation estimates, however, based on prior experience, we have realized passive losses of more than 75% of invested capital within the first year a site is operational. Note: Passive losses typically may be carried forward into future tax years and may be used to offset passive income. Please consult with a tax professional for any accounting advice.
8. What is the hold time for the investment and when would we likely see upside?
We expect an approximate hold time of 5 – 7 years until an exit, based on Olympus Pines’ previous experience.
9. When is the first distribution to investors projected to be made? How often are distributions paid?
Each site takes about 24 months to ramp. Through the development phases Typically the first distribution to be paid approximately 24 months after funding the investment. As of the end of 2025, the Opportunity Fund now has 3 operational car wash sites and 2 under development. The first distribution is expected to be made within the first 12-24 months which are scheduled to be sent quarterly (30-45 days after quarter end).
10. How are distributions from the Opportunity Fund taxed?
Distributions from net cash flow are treated as passive income and proceeds from an exit are treated as capital gains. All investors are encouraged to speak to tax advisors before investing.
11. Do you accept qualified funds (Self-Directed IRA, 401K) as investments?
Yes, we have many investors who participate in our offerings using qualified funds.
12. What is the minimum investment for PPR’s Opportunity Fund?
The minimum investment is $100,000.
13. Is the Opportunity Fund buying or leasing land?
All the sites in this fund will be owned.
14. Is car wash market saturation a concern?
The car wash industry remains highly fragmented. Independent reports, including those from consulting firms and investment banks that vigilantly cover the space, suggest that saturation is still over a decade away. Olympus Pines also focuses on areas with less saturation and prioritizes market density to create economies of scale.
15. Are car washes environmentally friendly?
The Opportunity Fund invests specifically in Tommy’s Express Car Washes, which feature an extremely environmentally friendly car wash blueprint. All washes are built to be LEED certified, and also reclaim and filter the vast majority of the water used in each wash. Furthermore, all chemicals and detergents used in the wash process are sourced directly from Tommy’s and are fully biodegradable, ensuring that any water that cannot be reclaimed does not adversely affect the local environment.
16. How are car washes recession resistant?
Industry data shows that historically car washes are very resilient to recessions, also benefitting from subscription models. Through careful site selection, it is anticipated that customers within the markets that the Opportunity Fund is investing will maintain their car wash routines even in economic downturns.
What Our Investors Are Saying
Thank you for your interest in the Opportunity Fund.
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