Tampa, FL. (October 10, 2024) – MH Estates Capital Partners LLC, a private equity investment firm and its principals, Major M. Hillard IV, Bonnie Hillard, and Lawrence J. Hoffman, are pleased to announce the successful first close of its MH Estates Manufactured Home Communities Fund LLC.
“This milestone, achieved in just over two weeks since it launched the fund, underscores the strong investor confidence in MH Estates Capital Partners strategy and plan for investing in manufactured home communities,” comments president and CEO, Major Hillard.
The Fund will continue to raise capital until it reaches its maximum offering amount of $10 million, or its expanded offering of $30 million. Investors who invest early with the Fund receive an early investor bonus as follows:
10% (units) if invest by the earlier of (i)October 31, 2024 or (ii) total investments equal $15,000,000.
5% (units) if invest by the earlier of (i)December 31, 2024 or (ii) total investments equal $15,000,000.
For example, a Class A Investor who invests $100,000 prior to October 31, 2024, will receive 110 units instead of 100 units.
The Fund is also scheduled to close on its first acquisition on October 16, 2024, The Glen at Wellford, a104-lot manufactured home community in Wellford, South Carolina. MH Estates Capital Partners plans to redevelop this property within 24 months, aiming to triple its market value. The surrounding parcels to this property are currently being developed by some of the country’s largest residential property developers including Ryan Homes, DR Horton, and Mungo Homes. These homes are being offered in the $200,000-600,000 price range. In addition to the residential development, there are large distribution centers, manufacturing plants, and storage facilities such as Walmart, Adidas, Ryobi, Milliken & Company, BMW Manufacturing Co., and Lockheed Martin Missiles and Fire Control. Just 1.2 miles west of The Glen At Wellford is the newly built $1 Billion Walmart distribution facility. The location of Glen at Wellford MHP is only a 15-minute commute to Spartanburg, SC and a 30+ minute commute Greenville, SC. Spartanburg has become the manufacturing hub of South Carolina. Thus, there is an extremely high workforce demand. This additional workforce has exacerbated the already housing shortage in Spartanburg County.
The MHC sector of the real estate industry is an excellent asset class during market shifts and have proven to be a very recession-resistant investment.
If you want to learn more about the fund and investing, please click the button below.
You will then be able to view the offering documents including the Investment Summary PowerPoint, Private Placement Memorandum, among other documents. This offering is for accredited investors only.