Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Brian Hummell
Director
614.468.5773 brian.hummell@berkadia.com
Ian Hilpl
Managing Director
315.406.0900
ian.hilpl@berkadia.com
Hunter LaRocca
Director
407.227.9643
hunter.larocca@berkadia.com
Kevan Enger
Senior Managing Director
407.494.8541
kevan.enger@berkadia.com
Manufactured Housing Investment Advisors
PETE EVANS
Sr Managing Director 312.407.6711 pete.evans@berkadia.com
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Orlando, FL 32801
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Minneapolis, MN
Home to numerous Fortune 500 companies, including United Health Group, Target, Best Buy, and 3M, the Minneapolis-St. Paul Metro provides a diversified labor force. The Mississippi River separates Minneapolis and St. Paul, which benefit from easy transportation routes from the accompanying Interstates 94, 394, and 494. Minneapolis is often called the “City of Lakes,” with more than 20 lakes within its city limits. A few miles south of the city center is the Mall of America, boasting more than 500 stores and 5.6 million square feet of shopping and entertainment paradise. The Minneapolis-St. Paul Metro’s six professional sports teams provide residents with abundant viewing opportunities, as the Minnesota Vikings of the NFL, Minnesota Twins of the MLB, Minnesota Wild of the NHL, and the Minnesota Timberwolves of the NBA are all within proximity.
#8 BEST CITIES TO RELOCATE TO IN AMERICA
- Best places
#8 HEALTHIEST CITIEs IN
AMERICA
- NICHE
TOP 100 BEST PLACES TO LIVE IN AMERICA
- U.S. NEWS & WORLD REPORT
#8 BEST CITIES FOR YOUNG PROFESSIONALS IN AMERICA
- NICHE
Berkadia Manufactured Housing is pleased to present the Minneapolis Portfolio. This offering features 107-sites between two communities: Jackson Heights and Southview Estates. These communities offer strategic entry into the Minneapolis MSA, a market known for its stable economic growth and strong demand for affordable housing options. Additionally, the current lot rents are positioned well below market rates, presenting significant upside potential. By implementing a $40 increase in Year 1, new ownership could realize a $50,000 increase in Effective Rental Income. In addition, the portfolio boasts an impressive 98% occupancy rate, reflecting the high demand and stability of the tenant base. The high occupancy is indicative of the assets’ operational efficiency and the attractiveness of their locations. Finally, the Minneapolis Portfolio is stabilized and well-maintained, offering a turnkey asset for a new investor. This minimizes the need for initial capital expenditures and allows for a focus on revenue optimization through strategic management practices.
This offering presents the unique opportunity to acquire two communities with stable cash flows and high occupancy rates while also providing a foothold in a desirable market with potential for rent growth.
Portfolio Summary
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45 Sites
Southview Estates
901 Red Wing Ave & 711 5th St Kenyon, MN
62 Sites
Jackson Heights MHC
12665 Dem Con Dr. Shakopee, MN
2 Properties
107 Sites
Minneapolis MHC Portfolio
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Call for Offers: Thursday, October 17th
The Portfolio
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Doc Center
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investment highlights
DEMAND FOR AFFORDABLE HOUSING
BELOW MARKET RENTS
ENTRY INTO MINNEAPOLIS MSA
03
02
01
Market
Contact
The Portfolio
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Terms of Use
Privacy
DOCUMENT CENTER
98% OCCUPIED
04
STABILIZED TURNKEY ASSET
05
Brian Hummell
Director 614.468.5773 brian.hummell@berkadia.com
raplh depasquale
Managing Director
312.845.8572 ralph.depasquale@berkadia.com
1
2
Jackson Heights
Southview Estates
Minneapolis
St. Paul
2
properties
107
total sites
98%
occupancy
$561
avg lot rent
