OZ Impact Funds has acquired 21 manufactured housing communities from Strive Communities, which includes 2,740 manufactured housing pads across five midwestern states. The $100 million acquisition adds to OZ Impact Funds’ growing portfolio of 11,400 manufactured housing pads acquired in just two years, increasing its portfolio by 30 percent.
With the pandemic slowing affordable housing construction, the nation is short more than 7 million homes for extremely low-income renters, according to the National Low Income Housing Coalition.
“Our aggressive plan to continue to increase affordable housing units could not come at a better time,” said Jeff Bennett, managing partner at OZ Impact Funds. “Acquiring mismanaged and under-capitalized manufactured housing communities to implement a hands-on, value-added approach brings benefits to both residents and investors.”
Aiming to own and operate 20,000 manufactured housing pads by 2022, this acquisition expands O
