Mobile Home Park
Roseville, MI
In February 2024, the Keel Team purchased a 166 lot mobile home park in of Roseville, MI.
Original Acquisition Price
February 23, 2024
Equity
Initial Cash Investment
Improvement
Summary
Purchased a 166-lot mobile home park in Roseville, MI for $5,000,000. Through improvement initiatives such as infilling 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 August 2024, the first cash flow distribution was $$24,201.14
Capital
Cash out refinancing event
On May 29th, 2026 the first refinancing event occurred.
Total
Distributions
Distributions Paid to Investors
The partnership received $834,070.21 in distributions.
10% Preferred Distributions Paid Quarterly, Starting in Month 6:
- August 2024: $24,201.14
- November 2024: $12,100.85
- February 2025: $12,100.84
- May 2025: $112,999.83
- August 2025: $113,000
- November 2025: $57,000
- February 2026: $85,000
- May 2026: $417,667.55
- Total Preferred Distributions Paid to Investors: $834,070.21
Capital
Summary
- $834,070.21 - Preferred Distributions
- $4,711,730.55 - Cash Out Refinancing Distribution
- $5,545,800.76 - Total Distributions
- ($3,400,000) - Initial Equity Investment
- $2,145,800.76 - Total return on capital
Timeframe
- 27 months = Approximately 2.26 years
ROI
- 27.93% annualized cash-on-cash ROI for the partnership
*And the LP investors stay in the deal after the refinance for infinite returns.
Future Potential ROI Opportunities
Infinite Returns
Infinite returns since all of the original equity investment has been returned, yet we still own the mobile home park.
Refinance
Additional supplemental loan available 12 months after refi (possible additional future returns per refinance loan terms).
Savings
Forced savings of approximately $5,431,000 due to the equity remaining in the property after the May 2026 refinancing event.
*Based on refinance appraisal values.
Appreciation
Additional potential equity appreciation as the trailer park continues to increase in value.
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.
