Inland Venture Partners LLC, a sponsor of private equity real estate investments, has partnered with Gemstone Communities, an owner and manager of manufactured housing communities throughout the United States.
Inland Venture Partners launched last month and plans to offer a series of closed-end, specified-asset funds to accredited investors seeking exposure to private equity real estate.
“Gemstone has established a strong presence in the manufactured housing real estate industry,” commented Rod Curtis, president of Inland Venture Partners. “Gemstone’s manufactured housing expertise and deal sourcing complements Inland Venture Partners’ focus on delivering opportunistic, value-add and development real estate strategies.”
Gemstone’s current portfolio includes 21 properties totaling more than 2,200 units located in Indiana, Florida, Michigan, New Jersey, Ohio and Texas.
“The demand for manufactured housing real estate continues to increase due to its affordability, stable income, long-term occupants and low capital cost to maintain the properties,” commented David Ruby of Gemstone Communities. “We are thrilled with the success we have achieved and look forward to building on that through our strategic partnership with Inland Venture Partners.”
Inland Venture Partners focuses on opportunistic, value-add and development real estate strategies. The company plans to identify opportunities where asset performance can be enhanced with financial and operational support, targeting assets ranging in size between $20 million and $100 million, according to the firm’s website.