Inland Venture Partners LLC, the private equity real estate arm of Inland Real Estate Investment Corporation, has fully subscribed its MH Ventures 2019- 1 LLC private placement offering.
MH Ventures 2019-1 purchased a portfolio of 13 manufactured home and recreation vehicle communities in Florida. According to a filing with the Securities and Exchange Commission, the offering is structured as a Regulation D 506(b) fund and sought to raise $24.8 million from accredited investors.
“We are delighted to see the strong support for this offering even amid the global pandemic,” said Rod Curtis, president of Inland Venture Partners. “Our research indicates that the manufactured housing sector is one of the strongest performing real estate sectors historically and the Company’s portfolio is well positioned for strong long-term performance due to favorable demographic demand drivers and constrained supply.”
The manufactured housing sector provides homes for approximately 22 million people, and according to the U.S. Census Bureau, 7.5 percent of existing single-family homes nationwide are manufactured.
“Inland Investments has built the necessary resources and infrastructure to properly acquire, manage and add value to manufactured housing communities and recreational vehicle properties,” commented Ravi Bansal, chief investment officer of Inland Venture Partners. “We will look to greatly expand our footprint in this sector and intend to invest more than $500 million dollars in manufactured housing communities over the next few years.”
Inland Venture Partners offers closed-end, specified-asset funds to accredited investors seeking exposure to private equity real estate and focuses on opportunistic, value-add and development real estate strategies.
Inland Ventures Partners is a part of The Inland Real Estate Group of Companies Inc., one of the nation’s largest commercial real estate and finance groups.