February 15, 2018
Sierra Vista, AZ – 52TEN, a mobile home park investment company, is pleased to announce the acquisition of Walnut Grove, a 64-space mobile home park located in Sierra Vista, Arizona.
The firm acquired the property with 100% private equity and did not place debt on the asset. This was an off-market transaction, acquired from a private owner in Indianapolis, Indiana.
52TEN, a Scottsdale based company is led by the team of Jack Martin, and Nate Pattee. “We are happy to add this park to the portfolio,” says Nate, Principal at 52TEN, “This property has the physical characteristics that we look for in an add-value property; large lots, open space, and a unique setting. Given our strategy and tactics, Walnut Grove will become a top tier MHP in the Sierra Vista.”
The strategy at Walnut Grove will begin with a rebranding as “Central Park Estates”. Along with that, the strategy will include a focus on the renovation and sale of park owned homes, the establishment of strong onsite management, installation of proprietary systems and processes, and capital improvements to the amenities at the park, particularly to the large grassy area in the center of the park.
The park is located on the west side of Sierra Vista, near Fort Huachuca, and is home to residents that appreciate the quieter side of the city. The property was selected for acquisition because it offers a significant amount of upside with the opportunity to sell park owned homes and fill vacancy. A three to five-year strategy to fill the park and stabilize the investment makes it appropriate for a longer-term hold.
Central Park Estates fits perfectly into 52TEN’s strategic target market niche focus of acquiring underperforming mobile home and RV parks, in fundamentally good locations, and turning them into higher quality properties. With a longer-term strategy in place, 52TEN will simultaneously achieve stable cash flow and the potential for significant profit for the partnership.
52TEN is a mobile home park investment company that partners with qualified investors in mobile home park and RV park investments. Their recession-resistant real estate strategy is designed to provide protection, predictable income, and peace of mind through volatile market cycles. “This strategy is a conservative solution for times of economic volatility,” says Jack, “It’s an alternative that most people have not heard of, yet it’s one of the smartest defensive strategies in real estate.”
52TEN combines lower-risk, income-generating real estate with an investor-centric model and a disciplined business approach. 52TEN is focused on “experience” across all facets of the business, to include the residents and staff at the parks, their contractors and employees, and their investor partners, all of which should expect to receive best experience they’ve ever had.
This content is the perspective of the author and is not intended to be relied upon as a forecast, recommendation or investment advice, and is not an offer or solicitation to buy any securities or to adopt any investment strategy. The information and opinions contained in this content are derived from experience, historic data, and other sources deemed to be reliable, are as of the date of this content, and may change as subsequent conditions vary.
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