Inland Venture Partners LLC, the private equity real estate arm of Inland Real Estate Investment Corporation, has sold a portfolio of 13 manufactured housing communities in Florida on behalf of its MH Ventures 2019-1 LLC private placement offering.
According to a filing with the Securities and Exchange Commission, the offering was structured as a Regulation D 506(b) fund and sought to raise $24.8 million from accredited investors. The offering launched in mid-2019 and was fully subscribed by November 2020.
The 13 manufactured housing community portfolio included 1,235 units on 86 acres and was 94.7 percent occupied as of September 30, 2021.
Inland Venture Partners reported that the sale provided a 52 percent estimated average annual fund-level return through the end of 2021.
“Inland Investments is pleased to return more than double the original equity invested in only a few years time,” said Rod Curtis, president of Inland Venture Partners. “The company’s dedication to uncover value, identify opportunities and continually monitor the pulse of market conditions resulted in an estimated 234 percent total return through the end of the year, including return of original investment.”
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.