Acquired in February 2024, our 223-site mobile home community in our Fund IV portfolio has already demonstrated vast performance due to the strategic execution of our value-add strategy.

In the first year of ownership, our team executed several infrastructure and community-facing improvements designed to enhance resident experience and operational stability:

• Advanced upgrades to the onsite Wastewater Treatment Plant (WWTP) to improve long-term functionality and compliance.

• Remodeled the community room, offering residents a revitalized space for gatherings and future events.

• Installed a new school bus stop within the community, providing families a safe, weather-protected location for daily use.

• Completed a new playground, extensive tree work, and updated signage to enhance aesthetics and safety.

• Executed lot prep and park infill projects, supporting the addition of four brand new homes, all now listed for sale.

Check out our Chief Operating Officer, Derek's site visit that highlights some of these value-add improvements: Watch Here

Since the full execution of our value-add initiatives, the community has consistently outperformed our initial underwriting projections:

• Income has exceeded expectations month over month

• Expenses remain below initial underwriting projections

• Net Operating Income (NOI) is 3.54% higher than originally forecasted

• Occupancy growth was not initially modeled, yet the community now benefits from four additional homes with a potential to generate ~$24,000 in annual lot rent

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.