52TEN, a Scottsdale based company is led by the team of Jack Martin, and Nate Pattee. Jack negotiated the transaction with the buyer from California, who acquired the park through a 1031 exchange.
“This park still had some room for the next owner to add value,” says Nate Pattee, Principal at 52TEN, “Had we kept it for one more year, we would have continued to make improvements to the property’s performance, but it’s always nice to grant that opportunity to the next owner.”
The strategy at this park was to establish top tier management, install state of the art software and operational procedures, and complete the capital improvements that the previous ownership left behind. In addition to the planned strategy, 52TEN was able to improve NOI to a greater degree than the initial conservative projections.
The Safford RV Park fit 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 the sale of the park, 52TEN was able to exceed the projected profit for the partnership.
52TEN 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.