Sunrise Capital Investors has acquired the 94-unit Miami Village Mobile Home Park in Fort Wayne, Indiana, expanding their Growth & Income Fund 4's Indiana presence to 832 units total.
CLEARWATER, FL / ACCESSWIRE / September 26, 2024 / Sunrise Capital Investors LLC ("Sunrise Capital"), a nationally recognized leader in mobile home park and parking lot investments, has successfully acquired Miami Village Mobile Home Park ("Miami Village") in Fort Wayne, Indiana, through an all-cash transaction. This all-ages community adds 94 units to Sunrise Capital's expanding Fort Wayne portfolio, where the firm now controls over 830 spaces-now leveraging significant economies of scale within their Growth & Income Fund 4.
"Expanding our Fort Wayne operations with Miami Village is a major strategic win," said Kevin Bupp, Founder and CEO of Sunrise Capital. "This acquisition continues our successful track record with the seller, who has worked with us in three prior community sales. Miami Village strengthens our position in a high-growth market, and with rents nearly $100 below market, we see incredible upside potential for our investors."
Miami Village was acquired from a repeat seller who commented on the transaction: "I was very satisfied with how you handled the transactions and that you were fair, stayed committed, and followed through with what you said you were going to do." This all-cash deal further exemplifies Sunrise Capital's ability to execute smoothly and efficiently, maintaining trust with key partners.
As part of its commitment to improving the local community, Sunrise Capital is proud to support Mission 25, a faith-based organization dedicated to providing resources and services to underserved communities, by providing free lot rent to the Miami Village Community Center, which offers programs like after-school activities, job training, and counseling to residents.
Brian Spear, Co-Principal and CIO, noted, "Miami Village aligns perfectly with our investment thesis. By addressing the below-market rents and operational inefficiencies, we anticipate strong cash flow growth and long-term value creation. With a projected equity multiple of over 3x, this property will continue to provide our Fund 4 investors with excellent returns, helping them build true legacy wealth."
About the Project
Sunrise Capital's strategic plan for Miami Village includes adjusting lot rents closer to market rates, enhancing property aesthetics and infrastructure, and improving operational efficiency. These efforts are expected to significantly boost Net Operating Income, delivering a yield on cost of 8.5%. This acquisition, completed with a significant margin of safety, positions the firm for sustainable growth in the years to come.
"We're thrilled to add Miami Village to our portfolio at such favorable terms," added Bupp. "This deal not only reinforces our dominant position in the Fort Wayne market but also sets the stage for continued cash flow and value growth for our investors."
About Sunrise Capital
Founded in 2014, Sunrise Capital Investors is a Florida-based real estate private equity firm specializing in mobile home park and parking lot investments. Sunrise Capital's mission is to deliver strong cash flow and build legacy wealth for investors by acquiring and improving undervalued assets in attractive markets. With a track record of reliability and consistency, Sunrise has successfully distributed on-time cash flow for over 27 consecutive quarters, without any capital calls, delays or investor capital lost.
Media Contact
Kirk Zandier
kzandier@scinvestors.com
412-651-5093
SOURCE: Sunrise Capital Investors
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