Haven Capital Ventures announced the launch of its Haven Fund II. The company looks to raise at least $20 million, expandable to $50 million, to target mobile home community management, otherwise known as manufactured housing. The company claims that the sector is "regarded as the lowest-risk and most recession-resistant niche in real estate."
"Our goal is to establish a capital opportunity that provides an alternative investment vehicle with lower risk than traditional safe harbor securities, the stock market or other real estate investments," the company press release quoted Haven Capital CEO Thomas Miller as saying. "This statistically validated option is expected to return much more than a traditional savings account or CD. Manufactured Home Communities (MHCs) present a commonly misunderstood opportunity. This once 'best kept secret' is no longer 'kept' if one has been actively screening information focused on real estate asset investments. With the current ripples in the economy and looming threats of recession, MHCs are a tangible asset that facilitates a fundamental domestic need; the ever present demand for affordable housing."
There are some traditional CDs, such as ones from Capital One and BMO Harris, currently paying 5%, as MarketWatch reported.
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"In response, the money markets now see the Fed hiking short term rates by a further 0.75% percentage points by the fall, and maybe by as much as a full point," the report said. "That's according to the market data tracked by the CME. That could take short term rates, currently 4.6%, over 5.5%."
The company pointed to factors that it argued made manufactured homes a good investment, "including preserved performance throughout economic swings, zoning limitations, fortified barriers to adding supply against increased demand, stable tenancy, and low maintenance costs."
The fund will focus on areas in which manufacturing housing is emerging, including Mid-Atlantic states, some Central Plain cities, parts of the Midwest and Northern Rocky Mountain zones, and strategic Southeastern corridors.
"Haven Capital Ventures executives have experience at varied levels with the fundamentals of numerous funds sharing similar attributes and purchased, financed, managed, and sold a large number of communities across the US," the release said.
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