PRESS ROOMNEWS RELEASE
Inland Venture Partners Closes Out Manufactured Housing Offering
Nicole SpreckInland Communications
Oak Brook, Ill. – Inland Venture Partners, LLC (“Inland Venture Partners”), the private equity real estate arm of Inland Real Estate Investment Corporation (“Inland Investments”), today announced that MH Ventures 2019-1, LLC, a Delaware limited liability company (“the Company”), is fully subscribed and no longer accepting new investors. The Company acquired a portfolio of 13 manufactured home and recreation vehicle communities in Florida.
“We are delighted to see the strong support for this offering even amid the global pandemic,” said Rod Curtis, president of Inland Venture Partners. “Our research indicates that the manufactured housing sector is one of the strongest performing real estate sectors historically and the Company’s portfolio is well positioned for strong long-term performance due to favorable demographic demand drivers and constrained supply.”
The manufactured housing sector provides homes for approximately 22 million people. According to the U.S. Census Bureau, 7.5 percent of existing single-family homes nationwide are manufactured homes, which historically have been more popular in the south and west. Florida recently ranked among the top 10 states in terms of increase in new manufactured housing shipments.*
“Inland Investments has built the necessary resources and infrastructure to properly acquire, manage and add value to manufactured housing communities and recreational vehicle properties,” commented Ravi Bansal, chief investment officer of Inland Venture Partners. “We will look to greatly expand our footprint in this sector and intend to invest more than $500 million dollars in manufactured housing communities over the next few years.”
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About Inland Venture Partners
Inland Venture Partners, LLC offers closed-end, specified-asset funds to accredited investors seeking exposure to private equity real estate. Dedicated to delivering opportunistic, value-add and development real estate strategies to investors, Inland Venture Partners, LLC strives to uncover value by identifying opportunities where asset performance can be enhanced with financial and operational support. 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, which is comprised of a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by such entities or subsidiaries thereof.