PRESS ROOMNEWS RELEASE
Inland Venture Partners Expands Footprint into Arizona, Rounding Out Second Manufactured Housing OfferingSeptember 27, 2023
Oak Brook, Ill. – Inland Venture Partners, LLC (“IVP”), the private equity real estate arm of Inland Real Estate Investment Corporation (“Inland Investments”), today announced that MH Ventures Fund II, Inc., a Delaware corporation (“the Company”), acquired a 4-Star RV Resort in Casa Grande, Arizona.
“We are thrilled to expand our footprint into the Phoenix Arizona MSA with this acquisition, completing the portfolio for IVP’s second manufactured housing offering that raised $160 million in capital,” said Rod Curtis, president of IVP. “This asset is well positioned for strong long-term performance due to favorable demographic demand drivers, a desirable location and limited competing housing options at an affordable price.”
Thirty minutes from Phoenix’s Sky Harbor International Airport, the senior community (for 55 years and older) RV Resort offers 125 RV sites, 80 of which are park models. The community features amenities such as a clubhouse, pool, spa, bocce ball, horseshoe pit, fire pit, BBQ grill station and dog park.
“Inland Venture Partners has transacted more than $200 million in 25 manufactured housing communities totaling more than 2,500 units across all its offerings,” commented Ravi Bansal, chief investment officer of IVP. “Manufactured housing has made homeownership dreams a reality for approximately 22 million Americans.”
The Company’s portfolio is currently comprised of 13 manufactured home and recreation vehicle communities located in Arizona, California and Florida.
# # #
About Inland Venture Partners
Inland Venture Partners, LLC offers specified-asset and thematically driven 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 financial 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.