EXCEEDING EXPECTATIONS
mPark Partners is an experienced national acquirer and operator of manufactured home communities. We acquire properties with value-add opportunities, improve financial performance by exercising our value-creation levers and improve them with newer homes, better infrastructure and professional management. Many of the properties that we acquire were run by mom-and-pop operators who did not take a professional approach to managing their assets and increasing shareholder value.
$23.1MM
AUM
514+
Units
12%-18%
IRR
2.3x to 5.4x
Equity Multiple
BEGIN THE JOURNEY TO FINANCIAL GROWTH
3-8 years
hold time
2.78x - 3.5x
Traditional or IRA
Quarterly Dividends
Immediate
Tax Benefits
FACT 01
Mobile Home Parks Are Valuable Investments
Mobile home parks were traditionally owned by mom and pop operators, who would live among their tenants who doubled as neighbors. Due to the friendly relationships, rents were not raised to keep pace with inflation. Professional investors overlooked the asset class, particularly due to stereotypes regarding the product, and favored other real estate sectors like apartments and office buildings. As a result, mobile home parks are undervalued, yet that value is increasing as professional investors continue to consolidate the industry.
FACT 02
Supply is Diminishing
The number of mobile home parks is decreasing as some owners sell their properties for redevelopment into different land uses. Closed parks are not replaced because current recent zoning ordinances in most cities and towns favor other housing types.
FACT 03
Demand is Increasing
The affordable housing crisis drives demand for mobile home communities. Many families cannot afford to purchase single family houses, and living in an apartment is not well-suited to families with children. Mobile home parks provide housing that is cheaper than both alternatives with bedrooms and yards for children and pets.
FACT 04
Mobile Home Parks are Stable
Mobile home parks are financially stable because tenants who own their homes rarely move making turnover a fraction of that of apartment buildings. Moving a home by even a few miles requires specialty contractors, moving and building permits, and can easily cost $5,000 or more. Because of the cost, tenants pay lot rent for years or decades. In recessions, mobile home parks perform better than all other real estate asset classes
FACT 05
Barriers to Entry are Huge
Mobile home park investing provides a wide economic moat. Zoning regulations and public perception prevent new communities from being built. Additionally with more stringent zoning ordinances, the replacement cost for a mobile home community has increased, thus deterring new construction.
FACT 06
Operations are Simple
Compared to apartment buildings, mobile home park operations are simple. We focus on renting lots and the tenants own and maintain their individual homes. Basically, we provide roads and utility infrastructure, mow common areas, and clear snow. The tenants do the rest. Due to the low turnover and maintenance needs, our staffing requirements are low.
PARTNER WITH US
Whether you are interested in selling your community, are looking for investors to help buy your own community, or would like to learn more about our investment funds, we would like to hear from you.
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