4900 Olson Dr Eau Claire, WI 54703

The Wisconsin Portfolio consists of Cozy Acres Mobile Village, Huntington MHP, and Riverside MHP, a 134-site manufactured housing portfolio. It is located across Eau Claire and New Richmond, Wisconsin. The portfolio is operating at approximately 89% occupancy with 119 occupied sites. The weighted average lot rent is approximately $400 per month. The assets feature a simple operating structure with a primarily tenant-owned home base and limited operational complexity. Cozy Acres Mobile Village represents the stabilized component of the portfolio at approximately 98% occupancy, while Huntington and Riverside offer additional upside through both rent growth and occupancy gains. The portfolio also includes 22 storage units, providing ancillary income and additional revenue diversification. Current rents across the portfolio are meaningfully below market, with adjusted rents of approximately $280–$351 compared to market averages of $449–$462, supporting substantial rental upside. Total revenue is projected to increase from approximately $571,000 to approximately $809,000 by Year 3, driven by rent increases and occupancy growth. Net Operating Income is projected to grow from approximately $374,000 to approximately $545,000, reflecting both revenue expansion and improved operating efficiency. Expense ratios improve from approximately 34% to approximately 32%, demonstrating operating leverage as the portfolio stabilizes. This offering presents an opportunity to acquire scaled, cash-flowing assets with multiple levers for NOI growth in supply-constrained Midwest markets.