RE Syndication Equity for Sale - 4 Value Add Mobil Home Parks and Multifamily funds
Location: San Angelo, Texas
Hello Investors, I am looking to sell my equity shares in 3 well performing portfolios overall. First two are Value Add Mobile Home Park Funds from Open Door Capital (Brandon Turner) on a 4-5% Fixed Rate Debt! Another portfolio is a Value Add Multifamily Fund from Praxis capital lead by Brian Burke. Overall they’re in good standing with no capital calls and 2 out of 3 have been paying out consistently. Overall it’s about a 8% preferred return distributed quarterly plus upside upon sale of the improved properties. Ideally looking to sell all 3 at once but open to offers individually. I would love to hold these to maturity however I have some other non real estate business opportunities that have come up so if I can find the right buyer I’d like to raise some cash. Portfolio 1 & 2 are probably worth more than initial investment at this point and Portfolio 3 may be below the initial level - will consider all reasonable offers. Portfolio 1 : Fund comprised of 7 Value Add Mobil Home Parks with 1200+ units. NOI above projections, no capital calls, consistent distributions, majority is low ~4% fixed rate debt - in excellent standing, potential for early profitable sale with the very attractive fixed rate debt. Properties : 7 Properties - Blue Mounds (Blue Mounds, WI), Country Acres (Joplin, MO), English Village (Nixa, MO), Panorama (Elko, NV), Prairieland Estates (Bloomington, IL), Star Dust (San Angelo, TX), Sun Lake (San Angelo, TX) Total Units : 1,213 Initial Acquisition Dates : December 2021 and May 2022 Investment Target Summary : 5 - 10 Year Hold, Preferred Return %7, IRR 15%+, Cash-on-Cash 7%-10%, AAR 14%-20%, distributed quarterly Managed By : Open Door Capital (Brandon Turner) Date Invested : October 2021 My Initial Investment : $100k Asset Class Benefits : Mobile home parks (MHPs) are a recession resistant investment class with relatively low vacancy rates, CapEx, and repair expenses. MHPs have significant value-add opportunities through park infill, utility back-billing, expense management, and rent increases. Portfolio 2 : Cash Growth Mobile Home Community Fund comprised of 8 Value Add Mobil Home Parks with 1200+ units. NOI close to projections, no capital calls, consistent distributions, all low ~4.8% fixed rate debt - in excellent standing, potential for early profitable sale with the very attractive fixed rate debt. Properties : Alpine Village (Republic, MO), Briarwood (Brookline, MO), Hay Creek (Bismarck, ND), Lakewood Estates (Springfield, MO), Parma Estates (Cleveland, OH), River Oaks (Louisville, KY), Starcrest Terrace (Bismarck, ND), Willow Haven (Colona, IL) Total Units : 1,245 Acquisition Date : May and June 2022 Investment Target Summary : 5 - 10 Year Hold, Preferred Class A 10% Cash-on-Cash Return, 10% AAR, distributed quarterly Managed By : Open Door Capital (Brandon Turner) Date Invested : March 2022 My Initial Investment : $100k Asset Class Benefits : Mobile home parks (MHPs) are a recession resistant investment class with relatively low vacancy rates, CapEx, and repair expenses. MHPs have significant value-add opportunities through park infill, utility back-billing, expense management, and rent increases. Portfolio 3 : Fund of Three Value Add Multifamily Properties in Suburbs of Atlanta, GA. No Capital Calls, payouts were paused temporarily due to high Interest Rate Caps but they’re anticipating payouts to resume as early as this year in 2Q2025 Properties : Aubrey's Landing (Cumming, GA), Lost Mountain (Dallas, GA), Magnolia Commons (Hiram, GA) Total Units : 584 Initial Acquisition Date : December 2021 Investment Target Summary : 5 Year Hold (up to 10 years), Preferred Return 8%, Levered IRR13%-15%, Cash-on-Cash Avg 6%-7%, Equity Multiple 1.7x - 1.9x Renovation : 95% of units renovated in 2023-2024 Managed By : Praxis Capital, Inc. (20 years in business, managing over 100k units) Date Invested : December 2021 My Initial Investment : $200k Location Benefits : The suburbs of Atlanta are experiencing rapid population growth due to their appealing mix of affordable living, quality schools, and expanding job opportunities. The demand for quality rental properties in these growing suburbs is increasing, particularly in well-renovated units that provide modern amenities.
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