GMF Group has announced the closure of GMF Group Fund II with commitments of $250 million.
GMF Group Fund II aims to acquire and improve manufactured housing communities (MHCs) across the United States. As of Jan. 14, this fund has 43 MHCs in Florida and North Carolina. It is in the process of acquiring more in the Southeast and Midwest regions.
The improvements supported by this fund include amenity upgrades, new landscaping and infrastructure upgrades.
“Manufactured housing remains an overlooked asset class with significant potential,” said Gabe Monfried, GMF group co-founder and managing partner, in a statement.
GMF is a real estate investment firm based in Palm Beach, Fla. The firm utilizes an opportunistic approach in its investment strategies.