Mobile Home Communities

TThe ongoing shortage of affordable housing has been the driver for our extensive investments in this asset class. In 2012 we identified mobile home communities as one of the only unsubsidized sources of housing able to meet the economic requirements of low-income tenants, yet they were almost entirely overlooked by most institutional investors at that time leaving an abundance of opportunities with very little competition. Between 2012 and 2018 we acquired over 50 mobile home communities with a total of over 7,000 spaces, ultimately selling at substantial profits with an average ROI of over 1.5x and typical annual cash distributions of 8 to 10%.