Park Street Partners ("PSP") has launched a 506 Reg D fund to acquire mobile home parks. "We hope to raise $5mm over the next two years," stated Jefferson Lilly, Managing Director of PSP. "The benefits to our limited partners will be both diversification across geographies and better acquisition prices given that we will be able to make offers to sellers for all cash and without a financing contingency," Jefferson continued.
Park Street Partners' first acquisition, the Cherrywoods mobile home park (www.cherrywoods.net) returned 3.5% of capital to its investors in Q3, 2014 (14% annualized rate of return). "This is no guarantee of future returns, but we believe does demonstrate PSP's ability to operate our properties well," said Brad Johnson, Managing Director of PSP.
Complete information on the Park Street Partners fund and offering documents can be found at: