New York, NY – September 18, 2025 – Andover Lending, the debt platform of Andover Properties, announced today that it has provided a comprehensive financing package to Tagg-N-Go Car Wash (“Tagg-N-Go”), a leading express car wash operator in the Mountain West region.
The transaction consolidated multiple recourse bank loans into a single non-recourse facility, extended debt maturities, funded ground lease buyouts, and provided capital to enhance and renovate assets, including seven new locations that Tagg-N-Go recently acquired and rebranded in Southeast Idaho. This marks Andover Lending’s second portfolio financing in the car wash sector, furthering its commitment to providing tailored capital solutions to owners of alternative real estate assets.
Founded in 2016, Tagg-N-Go has grown to 30 locations across Utah, Idaho, and Nevada. It has become one of Utah’s fastest-growing companies and is ranked among the top 40 conveyor car wash brands nationwide.
“This transaction exemplifies our ability to structure creative and comprehensive financing solutions that address multiple borrower needs at once,” said Zach Harding, Chief Investment Officer of Andover Properties. “Tagg-N-Go is one of the nation’s top car wash operators, and we are proud to support their continued growth and success.”
Andover Lending seeks to originate non-recourse financing for sponsors nationally who own alternative real estate assets. The platform combines Andover Properties’ 20-year track record of investing in self-storage and other alternative real estate sectors with TPG Angelo Gordon’s $70 billion credit platform and deep structured credit investment experience. The platform offers max-proceeds, non-recourse financing without requiring third-party management or bank deposits. Financing is available for single assets or portfolios of any size and for assets across the U.S.
About Andover Properties
Andover Properties is an investment firm specializing in alternative real estate asset classes such as self-storage, manufactured housing, RV parks, small bay industrial, and car washes. We are one of the largest private owner-operators of self-storage facilities in the U.S. Our portfolio totals over 14 million square feet across 160+ facilities in 19 states and operates under our Storage King USA brand. Founded in 2003 by Brian and William Cohen, Andover is headquartered in New York City, with offices in Miami and San Francisco. For more information, visit Andover Properties.