52Ten, an investment firm focused on mobile home parks, has acquired Apache Junction, Arizona-based Palo Verde Hills Mobile Home Park. No financial terms were disclosed. Palo Verde Hills MHP is the fifth park in 52TEN’s portfolio of mobile home parks.
52TEN, a firm specializing in mobile home park investments, is pleased to announce its acquisition of Palo Verde Hills Mobile Home Park (MHP), a 49-space park located in Apache Junction, Ariz. The transaction was completed off-market, directly with the park’s former owner, and the firm acquired the property with a combination of private equity and debt. Palo Verde Hills MHP is the fifth park in 52TEN’s portfolio of mobile home parks.
52TEN will renovate and sell the vacant homes on the property, fill the vacant spaces, and complete necessary capital improvements. “This was a rare opportunity to acquire a park in the Phoenix metro area,” said Nate Pattee, 52TEN co-founder. “The park has been well cared for and is in a quiet neighborhood with amazing views of the mountains. We are excited to make it even better for residents.”
Palo Verde Hills fits into 52TEN’s strategic target market niche focus of acquiring underperforming mobile home and RV parks in appealing locations and turning them into higher-quality properties. With a longer-term strategy in place, 52TEN will simultaneously achieve stable cash flow and profit potential for the partnership.
52TEN partners with qualified private investors in mobile home park and RV park investments. Its recession-resistant real estate strategy is designed to provide protection, predictable income, and peace of mind through volatile market cycles. “This strategy is a conservative solution for times of volatility,” said Jack Martin, 52TEN co-founder. “It’s an alternative that most people have not heard of, yet it’s one of the smartest defensive strategies available today.”
ABOUT 52TEN: 52TEN combines lower-risk, income-generating real estate with an investor-centric model and a disciplined business approach. 52TEN delivers the “best experience” across all facets of its business, including the residents and staff at its parks, contractors and employees, and investor partners. Co-founded by Jack Martin and Nate Pattee in 2016, 52TEN builds recession-resistant investments that offer performance-based partnerships with trust and transparency. Learn more at 52ten.com and connect with us on LinkedIn.