52TEN, a private real estate investment firm, has launched its second income and growth fund built around recession-resistant mobile home communities.
The second fund, called 52TEN Fund II, will focus on larger, higher-quality properties, with the underlying belief that quality will outperform less expensive assets over the long term.
Fund II will acquire mobile home communities with upside potential in markets where population and demand for affordable housing are increasing. The primary geographic target will be cities in the Sun Belt that are growing faster than the rest of the United States and experiencing a greater shortage of affordable housing. Once assets are acquired, the fund will add value by optimizing performance and therefore forcing the appreciation of each property, while distributing cash flow to investors over the life of the fund.
The high demand for affordable housing and the recession-resistant behavior of mobile home communities have attra