Oak Brook, Ill. – Inland Venture Partners, LLC (“Inland Venture Partners”), 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”) that focuses on the acquisition and management of manufactured housing and recreational vehicle communities, has completed a $160 million capital raise. The offering was oversubscribed and is now closed. The Company’s portfolio is currently comprised of 12 manufactured home and recreation vehicle communities, eleven of which are located in Florida and one of which is located in California.
"We are thrilled to close our second manufactured housing offering in just over two years,” said Rod Curtis, president of Inland Venture Partners. “These assets are well positioned for strong long-term performance due to favorable demographic demand drivers, desirable locations and limited competing housing options.”
The manufactured housing sector is one of the strongest performing real estate sectors and provides homes for approximately 22 million people. Nationwide, there is an estimated housing shortage of 3.8 million units, and many housing experts see factory-built homes as an effective means of meeting current affordable housing needs.
Over the past four years, Inland Venture Partners has acquired 25 properties covering 2,400 manufactured home and recreation vehicle sites.
“Inland Venture Partners has invested heavily in age restricted, high quality, well located manufactured housing communities,” commented Ravi Bansal, chief investment officer of Inland Venture Partners. “We look forward to expanding our footprint in this sector.”
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 Venture 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.