Clarksburg, WV
Ridgeline Estates
Clarksburg, WV
A 28-pad community purchased off-market from a retiring operator who had managed it the same way for 22 years. Deferred maintenance was cosmetic — rooflines, skirting, one utility easement. The tenant base was 100% long-term, average tenure nine years. We absorbed it at a 7.2 cap on in-place rents and immediately began a lot-rent normalization to market, phased over 18 months to preserve occupancy.
Muskingum Commons
Zanesville, OH
Forty-one pads on city water and sewer — a rare find in this asset class. Prior ownership had left six pads vacant due to title issues on tenant-owned homes. We cleared the titles inside 90 days, brought in three park-owned homes on lease-to-own terms, and stabilized at 95% within the first year. The market has no competing MHC within 18 miles, creating durable pricing power.
Zanesville, OH
Harrisonburg, VA
Shenandoah Ridge
Harrisonburg, VA
A 55-pad community positioned three miles from a regional medical center — the kind of employer anchor that keeps occupancy floors high through any cycle. Purchased from a small estate, the park had been professionally managed but under-rented by $85/pad against comparable communities. Lot rent increases of $60 in year one and $25 in year two brought the asset to market without a single vacancy.
The most recession-resistant
housing in America.
Manufactured housing sits at the intersection of permanent scarcity and inelastic demand. Tenants own their homes but rent the land — moving costs $8,000–$15,000, making retention structurally built in. In every recession since 1990, MHC occupancy has held above 88% nationally. We acquire below replacement cost, in markets where no new supply will be permitted, and hold for a decade.
7.4 yrs
Avg. Tenant Tenure
$12,000+
Move-out Cost (est.)
88%+
Recession Occ. Floor
Near Zero
New Supply Permitted
Past performance is not indicative of future results. All figures represent closed acquisitions. Returns vary by deal structure and hold period.
Plateau Park
Beckley, WV
Our largest single-asset acquisition to date — 78 pads across two adjacent parcels, consolidated under one operating entity. The prior owner had run them separately for 14 years, leaving operational inefficiencies that compressed margins by roughly 18%. A unified management structure, shared maintenance staffing, and a single utility billing platform brought expenses in line within two quarters. The combined asset now trades at a cap rate 140 basis points tighter than our entry.
Beckley, WV
Martinsburg, WV
Blue Ridge Commons
Martinsburg, WV
A 92-pad community in the Eastern Panhandle, acquired in partnership with a regional family office. The park sits in a commuter corridor between Martinsburg and the DC metro — an unusual demand driver for this asset class. Workforce housing demand here is structural, not cyclical. We acquired with a value-add mandate: 22 park-owned homes were converted to tenant-owned over 24 months, reducing our operating exposure and compressing vacancy risk. The equity multiple at our 7-year hold target is 2.3x.
Parcel MHC Fund II
Targeting 4–6 acquisitions across Appalachian secondary markets, 2026–2028
Parcel MHC Fund II, LLC
Fund Name
$8,500,000
Target Raise
$100,000
Minimum Investment
15–18%
Projected Net IRR
8% Pref.
Preferred Return
7 Years
Target Hold
Fund II targets the same playbook that closed Fund I at a 1.9× equity multiple.
Parcel MHC Fund II will acquire 4–6 manufactured housing communities between 30 and 100 pads in Appalachian secondary markets and rural Virginia corridors. Each acquisition will follow our documented value-add protocol: lot-rent normalization, tenant-owned home conversion, and infrastructure stabilization within 24 months of close.
The fund is structured as a Delaware LLC. Investors receive quarterly distributions beginning in month 13, following the completion of value-add work on the first asset. A preferred return of 8% accrues from day one. Profit splits above the preferred are 70/30 LP/GP through a 1.75× equity multiple, then 60/40 above.
This is not an offer to sell securities. All investments involve risk. This offering is available only to accredited investors as defined under SEC Rule 501. Past performance of Fund I does not guarantee Fund II results.