Download Offering Materials: Minot 3 Park Portfolio
Capstone Manufactured Housing is pleased to present the Minot 3 Park Portfolio. This portfolio features 500 sites across three communities: Wheatland Village, East Ridge Acres, and Magic City MHC. The communities are located within three miles of each other. The proximity of these communities allows for reduced management oversight while, in turn, gaining immediate scaled entry into the expanding city of Minot. This portfolio showcases value-add opportunities with below-market rents and occupancy upside. Since East Ridge and Magic City are stabilized, a new owner can focus on an aggressive lease-up strategy at Wheatland Village, which is currently operating at 43%. For example, by filling 49 vacant sites and bringing occupancy to 57%, the ERI would increase by over $230,000 at the current lot rents. This offering presents the opportunity to acquire three well-maintained communities with scaled entry into North Dakota.
Scaled Entry into North Dakota
Well-Maintained with Excellent Curb Appeal
Shared Staffing Between the Communities
Lot Rent Growth Potential
Tremendous Upside in Filling Vacant Sites at Wheatland Village