A major win for Fund 3 investors, with 30% return on equity, day one.
TAMPA, FL / ACCESSWIRE / January 9, 2023 / Sunrise Capital Investors LLC ("Sunrise"), a private equity investment firm targeting niche real estate sectors, recently announced the acquisition of the Park Estates Mobile Home Community in St. Paul, MN. Park Estates is the latest addition to the company's Growth and Income Fund 3, which consists of a diversified portfolio of mobile home parks and parking facilities.
"We're very excited to begin our process of renovating and modernizing Park Estates for the hardworking folks in the Twin Cities area. The property holds plenty of potential for our team to add tremendous value for both the tenancy and our investors," remarked Kevin Bupp, Co-Founder at Sunrise. "At a time when affordable housing is increasingly difficult to find, we're proud to provide folks in St. Paul with a fantastic option - and help our investors benefit from the cash flow this wonderful property will generate."
Park Estates was purchased for $10 million - nearly $1 million below the appraised value - resulting in a 30% return on equity, day one.
"As a result of our team, processes, and operations, we expect to more than double investors' equity in just a few short years," Co-Founder Brian Spear remarked. "This is a major win for our Fund 3 subscribers."
"The stars aligned for us to jump on Park Estates and do what we do best. The rents were 30% below market value - and the property is in a great location, with good bones and plenty of potential for our light value-add process to make them shine," Bupp added.
"Park Estates is joining several other properties - similarly purchased off-market, directly from previous ownership - in our Growth and Income Fund 3. The Fund is designed to produce outsized risk-adjusted returns for our investors over a long-term hold period that will ultimately generate legacy wealth and long-term cash flow. We consider Park Estates to be the perfect addition," Spear remarked.
With Fund 3, Sunrise plans to continue improving and providing affordable housing for working families across the United States.
About Sunrise Capital Investors
Founded in 2014, Sunrise Capital Investors is a Tampa-based real estate private equity investment firm focused on helping investors generate cash flow and build legacy wealth through commercial real estate investing.
Sunrise's goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period.
For additional information, please visit Sunrise's website at www.SunriseCapitalInvestors.com.
SOURCE: Sunrise Capital Investors