Recent Transaction Activity

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.

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.

Acquisition of Recreational Vehicle Resort in Tampa

MSP acquired a 55+ age-restricted destination extended-stay RV resort located near Tampa, FL. The 400-RV site property benefits from 2,000 feet of water frontage, along with a boat ramp / docks and convenient boat access to Tampa Bay. The partnership intends to upgrade the sites, common area and amenities.

Acquisition of 10 Manufactured Housing Properties in Canada

MSP closed on a 10 property Manufactured Housing Community portfolio located throughout Western Canada. The portfolio’s assets are located in high demand, high barrier–to-entry markets and the partnership intends to improve operations and transition away from the home rental model to a pure land-lease model. The partnership intends to add various amenities and complete basic improvements at the majority of the assets.

Acquisition of Manufactured Housing Portfolio in Florida

Dallas based Montgomery Street Partners GP Acquisition Fund, L.P. has closed on the acquisition of three 55+ age-restricted manufactured housing communities located along the east and west coasts of Florida. This transaction represents the first acquisition opportunity for the joint venture recently formed with a large pension fund to programmatically acquire MHC and RV communities throughout the US and Canada.

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MSP Invests in Manufactured Housing Operating Company and Forms Joint Venture with Large Pension Fund

MSP and Cove Communities formed a partnership to acquire, own and operate manufactured home and RV resort communities concentrated in retirement destinations and in major metropolitan areas of the United States and Canada. The MSP/Cove partnership was formed with the intention of investing as a general partner and subsequently sourced a large pension plan to invest programmatically alongside as a limited partner. The Partnership collectively has committed up to $850 million of equity to the investment program.

Construction Commences on Sage Senior Living at Atwater

Construction commenced in July 2017 on the Sage Senior Living at Atwater project located in Malvern, Pennsylvania, approximately 30 miles west of Philadelphia. The Atwater project will be named Echo Lake and will consist of 160 independent living units, 30 assisted living units and 60 memory care units. The community will be managed by Sage Senior Living, a privately-owned, regional seniors housing operator founded in 2002. Sage and MSP partnered with an institutional fund manager to provide the equity for the $100 million development with debt provided by Wells Fargo. Construction is expected to take 18 months with an anticipated grand opening in January 2019.