We’re pleased to announce that Fund IV closed on a 224-site mobile home community located in eastern Iowa.

This community presents multiple levers for value creation that align with our investment strategy:

• Strong Foundation: the property has been mom-and-pop owned and operated and is in well-maintained condition.

• Rent Growth Opportunity: Current rents are below market, providing room to align with local market levels over time while maintaining affordable housing options for residents.

• Utility Efficiency: The property is on unmetered city utilities, allowing us to implement sub-metering to reduce costs.

• Strategic Market Synergy: With Fund III already operating a 423-site community in the same market, this acquisition enhances management efficiency, reduces operational costs, and strengthens our regional presence.

Based on our initial underwriting projections, we are projecting:

• 23.9% IRR

• 2.7x MOIC

• 15.5% Cash on Cash by Year 6

This acquisition aligns with our strategic focus on value-add opportunities in the manufactured housing sector. For more details on the community or any of our active investments, feel free to schedule a call with us.

Interested in investing in Fund IV? Learn more here.

Disclaimer: The information contained herein reflects preliminary underwriting and forward-looking statements based on current assumptions, expectations, and projections. These projections do not guarantee 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.