Crystal View Capital Fund IV is pleased to announce that recent appraisals have shown an increase in value of approximately 45% of recently acquired mobile home communities in Michigan. The increase in value was driven heavily by the strategic value-add initiatives implemented by our in-house asset management team. 

This success underscores the Crystal View Capital advantage, rooted in our vertically integrated approach. By maintaining control over every aspect of the process—from acquisition to management—we directly influence the Net Operating Income (NOI). This comprehensive management strategy enables us to execute value-add initiatives effectively, driving significant value creation that would not be possible otherwise. 

This mobile home community portfolio is comprised of 360 sites and a current occupancy of 94%. Since the acquisition in early 2024, the portfolio has appraised for nearly 45% higher than the initial acquisition cost. Our in-house asset management team successfully executed a combined 30% lot rent increase as well as recaptured ~$184,000 in annual revenue from utility expenses. Through this revenue growth, we estimate a value generated of approximately $6.1 million at an assumed 6.5% cap rate. Further value-add initiatives are underway, including the pending delivery of five brand new homes throughout the portfolio and one tenant-occupied home being moved into the community, which we estimate will create approximately $508,000 in additional value at a 6.5% cap rate. 

We are actively seeking capital for the acquisition of mobile home communities in our pipeline, exceeding $20 million.

For those interested in investing, visit our website or reach out to our team at invest@crystalviewcapital.com. Know of someone who would like to receive these emails? Forward this message. They can subscribe here.