Meadowbrook MHC

The Wichita Portfolio consists of four all-age manufactured housing communities totaling 645 sites across approximately 148 acres in Wichita, Kansas. The portfolio includes Lamplighter MHP, River Oaks MHP, Fishin' MHP, and Cottonwood Grove MHP, all located within close proximity to one another and approximately 10-12 minutes from downtown Wichita. This concentration provides immediate scale in the market while allowing for potential operational efficiencies through shared staffing and management oversight. The communities benefit from public water and sewer service, with utilities largely direct-billed or tenant-paid. Lamplighter and River Oaks include amenities such as pools, basketball courts, and RV storage, while Lamplighter also features a clubhouse and community pond. Fishin' MHP includes a 17-acre lake, and all communities include storm shelters. The portfolio has also benefited from recent capital improvements, including entrance, signage, landscaping, asphalt work, and lot preparation for new home installations.

PRICE REDUCED. 46-space mobile home community with all public utilities. This is a stabilized investment, with recent cap ex for home renovations and many new concrete driveways. Most of the roads are maintained by the city (asphalt). Concrete roads are park-owned. Ottawa is in close proximity to Lawrence, KS and the Kansas City Metro. The Ottawa Metro itself has a population of just over 12,000 residents, and it is home to two large distribution centers and several manufacturing companies. It also serves as the county seat for franklin County, making it a hub for government and educational employment sectors.

Robust Historical Performance with Meaningful Upside Over the approximately three years of current ownership, the owners have demonstrated a strong track record of performance, particularly in rental collections. The current ownership team has excelled in community management, implementing technology enhancements, connecting the property to city water, and driving NOI growth while leaving meaningful upside for the next owner. When benchmarked against the broader Southwest Kansas market, Bedrock MHC's rents remain significantly below those of comparable communities, creating a compelling return profile through achievable rental increases in the coming years. In addition to rent upside, a new owner can pursue modest infill opportunities by selling homes to new residents, supported by Ulysses' median home prices north of $160,000. Furthermore, the limited availability of rental stock in the area remains at critically low levels, underscoring strong demand for additional affordable housing options. Majority Resident Owned Homes Of the physical homes onsite at Bedrock MHC, 98.6% are tenant owned. The single remaining inventory home is currently under a rent-to-own contract, with the tenant having already completed approximately half of their commitment. The high percentage of tenant-owned homes enables new ownership to drastically reduce repair and maintenance budgets, as most upkeep responsibilities fall under the residents. Strong Regional Economic Fundamentals Southwest Kansas has long proven to be an economy built on strong, resilient fundamentals that withstand broader market conditions. The economy is centered around agriculture, cattle feeding, and both food/beef processing, which continue to weather economic headwinds and be strong spokes in the wheel. In addition to agricultural related industries, Southwest Kansas sits atop the Hugoton Gas Field. Ulysses and Grant County are situated right in the middle of this iconic American natural gas field. Together, these industries provide reliable employment to residents throughout the region.

100-space mobile home community, well-located in growing Kansas City, KS. At 85% occupancy, this property offers upside through continued lease-up, rent growth, and expansion opportunity on the excess land, by approximately 58 sites. The property has seen recent improvements, with re-paving of most roadways in Spring of 2026. Current ownership has substantially improved occupancy during their tenure, and there is strong potential here to infill the remaining sites.