We are pleased to announce that Fund IV is now under contract to acquire a 137-site manufactured housing portfolio in Wisconsin. This off-market opportunity was sourced directly through our long-standing relationships with local mom-and-pop owners, reinforcing the strength and effectiveness of our relationship-driven acquisition strategy. By maintaining direct connections with owners, we are able to identify high-quality assets before they enter the broader market, ensuring access to properties that align closely with our investment criteria.

This portfolio presents significant opportunities for value creation. Current rents are below market, giving us clear potential to bring them up to market rates, enhancing revenue and overall portfolio performance. Additionally, the portfolio offers meaningful infill potential, allowing us to strategically increase occupancy while optimizing operational efficiency. Immediate operational improvements will further strengthen tenant satisfaction and long-term cash flow, reflecting the disciplined approach Fund IV applies to all acquisitions.

As institutional interest in the manufactured housing sector continues to accelerate, our direct-to-owner sourcing strategy positions us ahead of broader market trends. By leveraging relationships and acting decisively, we maintain priority access to high-quality portfolios that fit our model and support sustainable value creation.

This acquisition is representative of the broader pipeline Fund IV is advancing as we continue deploying capital with precision and focus. Each opportunity is carefully selected for its alignment with our value creation strategy, including rent growth potential, operational lift, and long-term market dynamics.

We are proud to see Fund IV execute on its strategic plan, advancing acquisitions that demonstrate both immediate impact and long-term growth potential.

For more details on this portfolio or our deployment strategy, please reach out.

Disclaimer: Past performance is not indicative of future results. The investment returns referenced herein, including IRR and MOIC, reflect historical outcomes specific to this asset and are not a guarantee of future performance. This communication is intended for informational purposes only and should not be construed as an offer to sell or a solicitation of an offer to buy any security or investment product. Any offering is made only pursuant to formal offering documents and in accordance with applicable securities laws.