Crystal View Capital Fund IV Assets Continue to Exceed Initial Projections

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Jun 19, 2024, 08:31 ET

LAS VEGAS, June 19, 2024 /PRNewswire/ -- Crystal View Capital Fund IV is pleased to announce that recent appraisals have shown an increase in value of approximately 45% of recently acquired mobile home communities in Michigan. The increase in value was driven heavily by the strategic value-add initiatives implemented by our in-house asset management team.

This success underscores the Crystal View Capital advantage, rooted in our vertically integrated approach. By maintaining control over every aspect of the process—from acquisition to management—we directly influence the Net Operating Income (NOI). This comprehensive management strategy enables us to execute value-add initiatives effectively, driving significant value creation that would not be possible otherwise.

This mobile home community portfolio is comprised of 360 sites and a current occupancy of 94%. Since the acquisition in early 2024, the portfolio has appraised for nearly 45% higher than the initial acquisition cost. Our in-house asset management team successfully executed a combined 30% lot rent increase as well as recaptured ~$184,000 in annual revenue from utility expenses. Through this revenue growth, we estimate a value generated of approximately $6.1 million at an assumed 6.5% cap rate. Further value-add initiatives are underway, including the pending delivery of five brand new homes throughout the portfolio and one tenant-occupied home being moved into the community, which we estimate will create approximately $508,000 in additional value at a 6.5% cap rate.

To date, Crystal View Capital Fund IV, LP has closed on 12 acquisitions since inception and is targeting to raise $200 million in equity capital. The Fund is actively seeking capital for the acquisition of self-storage and mobile home communities in our pipeline, exceeding $20 million. For more information, please visit www.crystalviewcapital.com or reach out to our investor relations team at [email protected].

Crystal View Capital is a private equity real estate firm that focuses on the acquisition and management of opportunistic self-storage facilities and manufactured housing communities. The firm creates value by sourcing deals primarily off-market and utilizing their in-house management team to influence property performance. Please contact our investor relations team to learn more about making an investment in Crystal View Capital Fund IV, LP.

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The contents of this release and any information derived hereof are confidential and proprietary to Crystal View Capital Fund IV, LP and its affiliates ("Crystal View Capital"). Reproduction, distribution, or dissemination of this release or any derivative work, in whole or in part, without prior written consent from Crystal View Capital is strictly prohibited. Upon receiving this release, you agree to indemnify Crystal View Capital to cover any potential losses including damages, fees or expenses including legal expenses.

Media Contact:
Megan Lore
702-570-2903
[email protected]

SOURCE Crystal View Capital