Recent Transaction Activity

Acquisition of Manufactured Housing Community in UK

MSP closed on the acquisition of a 2,500-site caravan park community located in the seaside town of Selsey, UK, approximately 80 miles south of central London. The 5-star quality caravan park is situated on over 300 oceanfront acres and recently underwent a renovation including a new indoor amenity complex with an outdoor pool, new corporate office, and upgrades to the indoor waterpark, water slides and sports courts.

Acquisition of Defaulted Loan for Memory Care Facility in Missouri

MSP acquired a defaulted construction loan from the lender at a significant discount on a 54-bed stand alone memory care facility located in Lee’s Summit, MO (approximately 20 miles southeast of Kansas City). The property was completed in 2018 and was 57% occupied at acquisition. The property had suffered operational difficulties due to the bankruptcy of its parent company despite its location in a strong submarket. MSP partnered with Seasons Living, the operating partner on a previous development, Torrance Memory Care in Torrance, CA. The partnership foreclosed on the note in September and has taken over operations of the facility.

Single Family For Rent Residential Development in Texas

MSP closed on the acquisition of 20 acres in Northeast Houston to complete the development of a 160 home single family detached rental community. The property is adjacent to, and will share the amenities of, a 2,200 home master-planned single family for sale community. The homes will be two and three bedrooms and will range from 1,100sf to 1,500sf with rental rates in line with surrounding multi-family projects. The neighboring master-planned community is being built out by 16 national and regional homebuilders with homes for sale from $200,000 – $500,000. The community boasts numerous amenities including a 2-acre Crystal Clear Lagoon, fitness center and clubhouse and walking trails throughout.

Development of Memory Care in California

MSP has partnered with Seasons Living to develop a 60-bed stand alone memory care facility in Torrance, California. The facility will be developed on a site along Pacific Coast Highway adjacent to a Whole Foods, Sam’s Club, AMC Theaters, Trader Joe’s and with two local hospitals proximate to the site. Greater Los Angeles, and broader California markets, both retain substantial barriers to new development and the Torrance submarket has experienced limited new supply relative to strong demographics.

Acquisition of Manufactured Housing Community in Florida

MSP closed on the acquisition of an age-restricted (55+) manufactured housing community located in Estero, Florida (15 miles south of Ft. Myers). The property has frontage on the Estero River (with open water access to the Gulf of Mexico), along with a boat ramp and 54 boat slips. Additional amenities include a clubhouse, shuffleboard courts, bocce ball courts, and horseshoe pits.

Development of Single Family Residential Community in California

MSP has partnered with McCarthy Companies to develop a new 44 unit detached single family home community in Lompoc, California. The community is located 5 minutes from Vandenberg Airforce Base, 30 minutes from SpaceX and 30 minutes from Santa Barbara. Homes will range from 1,700 square feet to 2,500 square feet and will provide an affordable option for new home buyers in a supply-constrained market.

Acquisition of RV Resort in Florida

MSP closed on the acquisition of an age-restricted RV resort in Leesburg, Florida. The property is situated on a 200-acre natural wooded setting on a chain of freshwater lakes. The community allows for outdoor activities such as fishing, kayaking, canoeing, hiking, biking and swimming. The resort includes a rich amenity base that is desirable to the 55+ demographic, including a clubhouse, fitness center, indoor and outdoor swimming pools, shuffleboard, basketball courts, tennis courts, a boat ramp and boat docks.

Acquisition of Single Tenant Industrial

MSP closed on its second industrial acquisition with Polk Street Industrial. The partnership acquired Meridian Industrial, a 73,000 square foot, single tenant industrial facility located in Arlington, Texas.

Acquisition of Manufactured Housing Portfolio in Florida

MSP closed on the acquisition of three age-restricted (55+) manufactured housing communities located in the cities of Sarasota and Ocala, Florida. The properties are proximate to beaches, restaurants and retail and each community includes a clubhouse, fitness center, banquet room, library, swimming pool, private lakes, tennis courts, pickle ball courts, and shuffleboard courts. One property also has an 18-hole executive golf course.

Acquisition of Land for Seniors Housing Development in Boston, MA

MSP closed on the acquisition of approximately 10-acres of entitled land in Hudson, Massachusetts, a suburb 30 miles west of Boston. MSP, in partnership with Sage Senior Living, intends to break ground on a 148-unit independent living, assisted living, and memory care community later this summer. The development represents the second collective seniors housing development for the Partnership with Sage.

Acquisition of RV Resort in Maine

MSP closed on its 16th manufactured housing investment with the closing of Point Sebago, an all-age extended-stay and vacation destination RV community located in Casco, ME. Point Sebago has been operational for over 40 years and has become the highest rated RV resort in Maine. With its award-winning activities and entertainment programs, a nationally acclaimed 18-hole championship golf course, and over one mile of pristine beachfront, the property offers a family-oriented vacation experience that is typically limited to mega resorts.

Acquisition of Single Tenant Industrial

MSP, partnering with Polk Street Industrial, acquired a single-tenant industrial facility located in Dallas, TX. The acquisition marks the first in a programmatic joint venture with Polk Street to acquire industrial properties in and around urban core markets across the United States.

Acquisition of Student Housing at Auburn

MSP and Aspen Heights have acquired Eagles South, a student housing property located in Auburn, AL. The property is located 0.1 miles from the southern edge of Auburn University, which maintains total enrollment of over 29,000 students. The Aspen Heights team has extensive experience in the student housing industry, having developed, acquired and operated over 26 communities since its founding in 2006, including another property in the Auburn market. MSP and Aspen Heights have also partnered in other projects including Daymark Living, an independent living facility for adults with Intellectual Disabilities and Disorders located in Waxahachie, TX.

Acquisition of MHC in Florida

MSP closed on the acquisition of a manufactured housing investment located approximately 30 miles north of Orlando, FL. The property is a 55+ age-restricted community with upside potential throughout the development and lease-up of up to 14 additional home sites. The Property is located in a desirable coastal market with robust 55+ MHC fundamentals including consistent long-term rent growth and stable occupancies through economic cycles with no new supply outside of the limited expansion of existing communities. MSP closed this acquisition through its programmatic partnership with a Canadian pension fund and a best-in-class MHC operator.

Programmatic Joint Venture with Polk Street Partners for US Industrial Properties

MSP and Polk Street Industrial formed a partnership to acquire, own and operate industrial assets concentrated in or near major industrial hubs of the United States. The MSP/Polk Street partnership was formed with the intention of investing as both the general partner and limited partner in industrial properties.