At Crystal View Capital, we remain committed to delivering long-term value by enhancing the operational performance and resident experience across our portfolio. In Q1 2025, we focused on meaningful improvements that support both community quality and future revenue growth.

Among the many impactful efforts this quarter were enhancements within our Bismarck, North Dakota portfolio, acquired in September 2024. This portfolio includes approximately 300 sites and has already shown strong early momentum, driven by targeted infrastructure upgrades and community enhancements that are core to our value-add strategy.

Community Enhancements that Make a Difference

We’re proud to have completed several high-impact upgrades this quarter, including:

• New playground installations to create safe, family-friendly spaces

• Updated mailbox units to improve convenience and curb appeal

• Extensive tree work to enhance safety and visual appeal throughout the communities.

Each of these upgrades is part of our ongoing effort to elevate the resident experience and create well-maintained, welcoming environments.

Infrastructure Upgrades to Support Operational Efficiency

Alongside visual and lifestyle improvements, we also prioritized critical utility infrastructure upgrades. New meter installations were completed to support water and sewer bill-back initiatives, a move designed to:

• Improve cost recovery

• Reduce operating expenses

• Strengthen overall property performance

Infill Strategy Driving Future Occupancy

To support future occupancy growth, we upgraded infrastructure across the portfolio, setting the stage for upcoming infill efforts. As part of this initiative, more than six new homes have already been ordered, with strong resident demand even prior to delivery—an encouraging indicator of market strength and continued revenue potential through 2025.

These results translated into meaningful cash flow for Crystal View Capital Fund IV in Q1, driven by accelerated rent growth, stable collections, and strong occupancy metrics. Our approach continues to create near-term income while compounding long-term asset value.

To learn more about how this and other portfolio assets contributed to Fund IV’s performance, read our full Q1 cash flow update here.

Disclaimer:
The information contained herein reflects preliminary underwriting and forward-looking statements based on current assumptions, expectations, and projections. These projections are not guarantees of future performance and involve risks, uncertainties, and other factors that may cause actual results to differ materially. Past performance is not indicative of future results. This is not an offer to sell or a solicitation of an offer to buy any securities. Any investment in a private fund involves significant risk and is suitable only for accredited investors. Please refer to the private placement memorandum and consult your financial, legal, and tax advisers before making any investment decisions.