Madison Capital Group Closes Pair of Car Wash, Convenience Store-Focused Funds

Real estate investment firm Madison Capital Group has closed its eighth and ninth bonus depreciation-focused investment funds, which collectively raised more than $100 million in capital. Since 2021, Madison said it has raised over $460 million via more than 3,100 accredited investors.

The two funds, structured to invest in car washes and convenience stores across the United States, respectively, offer their investors the dual benefits of accelerated bonus depreciation-focused tax strategies and cash flow potential.

“Tax strategy has always been a focus for Madison,” said Ryan Hanks, chief executive officer of Madison Capital Group. “We have substantial experience offering bonus depreciation real estate opportunities at scale to advisers and CPAs, and our goal is to continue being a trusted sponsor in this market.

Links Car Wash Opportunity Fund II, LLC, launched in June 2025 and aimed to raise $75 million. Madison Convenience Fund I, LLC, soft launched in June 2025 and aimed to raise $125 million. A later Form D filing signed in August 2025 listed a $100 million capital raise and noted the previous name of the fund was Madison Net Lease Fund V, LLC.

Investments in both funds were made in partnership with Links Car Wash and Fresh Stop Convenience Stores, national operators with locations across more than seven states and active expansion plans in 2026.

Madison Capital Group is preparing to launch a new bonus depreciation-focused investment fund in February 2026, with a targeted raise of approximately $200 million. The fund is expected to pursue a diversified real estate strategy focused on depreciation-related tax considerations and income potential.

“The Madison team is assembling a robust pipeline of opportunities intended to support efficient capital deployment and potential for immediate cash distributions to investors,” added Hanks.

Previously reported by AltsWire, Links’ initial offering, Links Car Wash Opportunity Fund, LLC, launched in September 2024 and aimed to raise $50 million.

Madison Capital Group, headquartered in Charlotte, N.C., is a real estate investment firm focused on commercial, self-storage, marinas, and multifamily sectors. The company is the parent entity of Go Store It Self Storage, a nontraded direct investment sponsor specializing in self-storage, and Madison Communities, a vertically integrated real estate development and investment firm dedicated to creating high-quality suburban garden-style apartment communities throughout the Southeast. Madison Capital Group also owns Madison Commercial, a vertically integrated real estate firm focused on alternative asset classes, including retail, office, and mixed-use investments.

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