Mobile Home Communities
Current Projects
Past Projects
Mobile Home Communities
North Peak Development has recently accelerated our investment strategy in mobile home community assets and, given the current climate of the real estate market, will continue that plan with even more velocity. We believe mobile home community investments are a powerful portfolio insulator to any potential economic challenges. Covid-19 has proven this belief to be true in 2020-2022 and we believe it will only increase for years to come.
We are focusing our mobile home community investment efforts in the Midwest due to value and opportunity. We are investing in high-demand areas that are typically in need of significant infrastructure updates, replacement of older homes, vacant-lot infill, and management efficiencies. In large part, our criteria for acquisition are communities with 40+ spaces, have an area population base of 5,000+ residents within 1 mile, and are in close proximity to job diversification and local retail.
Experience Matters
The success of any investment is centered around the caliber of the team. We have a highly experienced team with over 28 years of combined experience in mobile home community investing and management. Our total mobile home community portfolio experience totals over $505m in combined value. Because of our knowledge of this sector, we are able to efficiently evaluate a prospective community while in the due diligence period and make educated decisions on whether or not to proceed with the acquisition. Once the acquisition is complete, we immediately initiate our process for the economic turnaround of the community. There are several steps that we take immediately to improve the quality of life for the residents while also increasing the Net Operating Income (NOI). These steps often include community cleanup, landscaping, road maintenance, infill of new or used homes in vacant spaces, and implementing our in house management. All of these immediate efforts on our teams’ part set a positive tone for the residents while solidifying the future profitability of the community.
Meet the Team
Jeb Koerner
Managing Partner
Director of Development
Mark Taylor
Managing Partner
Director of Acquisitions
Jeff Wallenius
Managing Partner
Director of Operations
Kody Fordyce
Managing Partner
Director of Business Logistics
© 2021 All Rights Reserved