Mobile Home Park
Buffalo, NY
In June 2021, the Keel Team purchased a 61 lot mobile home park in of Buffalo, NY.
Original Acquisition Price
June 4, 2021
Equity
Initial Cash Investment
Improvement
Summary
Through improvement initiatives such as infilling on vacant pads, renovating run down mobile homes, modest lot rent increases, and others – we were able to improve the portfolio’s operations, increase NOI, and achieve a significant value increase. The financial results of these efforts are summarized below:
Debt
Collateral
The new debt is non-recourse, agency debt for the General Partners.
Payout
Cash flow distribution
On December 2021, the first cash flow distribution was $28,515.27
Total
Distributions
Distributions Paid to Investors
The partnership received $277,053.27 in distributions.
Sale Event
The partnership received $388,933.90 from extra proceeds at the sale event.
10% Preferred Return, Distributed Periodically from Month 6
- December 2021: $28,515.27
- March 2022: $12,250
- June 2022: $12,250
- March 2023: $12,250
- June 2023: $18,375
- September 2023: $12,250
- December 2023: $18,375
- December 2024: $12,250
- March 2025: $12,250
- June 2025: $61,250
- September 2025: $12,250
- December 2025: $64,788
- Total Preferred Distributions Paid to Investors: $277,053.27
Capital
Summary
- $277,053.27 - Preferred Distributions
- $1,088,993.90 - Sale Distribution
- $1,366,047.17 - Total Distributions
- $700,000 - Initial Equity Investment
- $666,047.17 - Total return on capital
Timeframe
- 54.9 Months = Approximately 4.57 Years
ROI
- 20.82% annualized cash-on-cash ROI for the partnership.
*And the LP investors stay in the deal after the refinance for infinite returns.
Interested in learning more?
Get in touch with us today to learn more about mobile home park investing!
LEGAL DISCLOSURE: All investment offerings have a high degree of risk. Results may vary. Past performance is not a guarantee of future success.
