We’re excited to share the closing of our latest acquisition—a 103-site mobile home community in southeast Iowa. This acquisition continues our primary focus on acquiring mobile home communities in Fund IV, reinforcing our commitment to value-add opportunities in the sector. 

Deal Highlights:

• Sourced off-market

• Average occupancy of 93%

• Align rents with market while maintaining affordability for current and prospective residents - rents currently 45% below market

• Focus on occupancy growth by filling one site per year over the next six years

Projected Returns:

• 16.5% IRR

• 2.1x MOIC

• 10% Cash-on-Cash by Year 6

If you're interested in learning more about this deal and upcoming deals within our acquisition pipeline, reach out to our team. 

For more updates on our acquisition pipeline, follow us on LinkedIn.