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Capstone is pleased to present the Minnesota 3-Park Portfolio, consisting of 124 sites across 3 communities. The parks are strategically located in the Minneapolis and Sioux Falls MSAs, both of which boast high rents and occupancy. Those features provide an ample opportunity to bring rents up to the market and fill the vacant sites. By increasing the lot rents by $50 and raising occupancy to 90%, the effective rental income would grow by ~$150,000 (32%). Furthermore, the communities are currently only receiving 27% of the water & sewer expenses, providing another avenue to increase income by improving the recapture rate. This offering presents the opportunity to acquire a Minnesota MH portfolio with value-add components in strong markets.
Upside in Filling Vacancy
Proximity to Minneapolis and Sioux Falls Markets
Opportunity to Improve Utility Recapture
Public Utilities at 2 of the Parks