52TEN, a firm specializing in mobile home park investments, is pleased to announce the sale of Santa Rita Heights, a 50-space mobile home park located near Tucson, Ariz. The firm’s founders, Jack Martin and Nate Pattee, worked with Marcus & Millichap broker Mike Escobedo to negotiate and close the transaction with a buyer from California.
“We were able to meet our objectives at the park, and there is still room for the new owners to add value,” says Pattee.
52TEN’s strategy at Santa Rita Heights was to rebrand the community and solve years of deferred maintenance first, then work toward achieving optimal occupancy through the renovation and sale of homes. Over the course of ownership, capital improvements were made to the property and rental rates were moved closer to the market.
Santa Rita Heights fit perfectly into 52TEN’s target of acquiring underperforming mobile home parks in fundamentally good locations and turning them into higher quality properties. With the sale of the park, the firm was able to exceed the projected returns for the partnership.
52TEN partners with qualified investors in mobile home park investments. Its recession-resistant strategy is designed to provide predictable income and peace of mind through market cycles. “This strategy is a conservative solution for times of economic volatility,” says Martin, “It’s an alternative that most people have not heard of, yet it’s one of the smartest defensive strategies in real estate.”
52TEN is an Arizona-based private real estate investment firm verified by Verivest. Co-founded by Jack Martin and Nate Pattee, 52TEN takes a unique approach, partnering with investors through recession-resistant mobile home communities to maximize yield while minimizing risk. By combining a lower-risk strategy with unparalleled transparency and a disciplined business approach, the firm provides a comfortable investment and the best experience in the industry.