LOS ANGELES — Forbix, a full-service real estate lending, investment and advisory firm with a nationwide reach, today announced its acquisition of Santa Monica Car Wash & Detailing car in Santa Monica. The acquisition adds a fifth car wash to Forbix’s portfolio, and the firm plans to transform the property into the newest QuikWash location in Southern California.
“At Forbix, we seek out investments that offer above market returns,” said Emil Khodorkovsky, founder and CEO of Forbix. “The addition of a new QuikWash location to our growing car wash portfolio will bring quick, high-quality car care and unparalleled convenience to Santa Monica residents.”
QuikWash is an automated car wash chain offering fast, convenient and sustainable washes. From start to finish, their wash process takes less than five minutes. QuikWash offers monthly membership deals for a wide range of prices, which come with unlimited car washes and access to an exclusive member’s line.
QuickWash Santa Monica SRE LLC, a subsidiary of Forbix, acquired the property for $7 million. The transaction was facilitated by Makan Mostafavi of MG Equities and Steve and Sam Serber of Serber Capital.
The property will continue to operate as a hand car wash while awaiting construction permits.
About Forbix: Forbix is a nationwide, full-service real estate lending, investment and advisory firm founded by a versatile and experienced team of real estate investors. With a portfolio aggregate value of $500 million across various states and asset classes, Forbix is an innovative player in real estate focusing on value-added deals.
