Cook Properties MH Portfolio Acquisition

Cook Properties MH Portfolio Acquisition

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  • Property Type: Equity Solutions
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Overview

On behalf of Cook Properties, Capstone Equity Solutions is pleased to present a preferred equity investment opportunity in the Cook Properties—MH Portfolio Acquisition. This portfolio offers immediate scaled entry into the Rochester and Syracuse MSAs with 2,311 sites across 55 parks. Over 40 of the communities are concentrated in the Rochester MSA, with additional assets located in nearby areas of Upstate New York. 

A portfolio of this magnitude allows potential investors to immediately capture a large market share in the attractive Rochester, NY area in a single acquisition. Additionally, the portfolio is currently operating at roughly 87% occupancy and currently has 488 park-owned homes, with plans to purchase approximately 280 additional manufactured homes to increase lot occupancy across the portfolio. This presents new investors with an opportunity to invest in a stable, cash-flowing MH portfolio with significant upside through the leasing up of vacant sites.

Lastly, the investment opportunity has an extremely strong sponsor in Cook Properties, which has over 20 years of experience in the manufactured housing sector. Cook properties currently possess a sizeable MH portfolio in New York State of over 4,000 pads across 35 communities, significantly reducing operational and execution risk of this investment opportunity. 

Investment Highlights

·         Immediate Scaled Entry into Manufactured Housing Sector

o   Strong MH Demand in Upstate NY

·        Stable Cash-flowing Portfolio with Significant Value-Add Opportunity

·       Experienced Sponsor with Extensive MH Track Record

Contact Information

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