RF CorVal Manufactured Housing Estate Fund

Property Information

CommencementAugust 2019
Target Equity IRR15%+

Portfolio of land leased community assets.

The RF CorVal Manufactured Housing Estate Fund was established in August 2019 to pursue a “develop to own” strategy with the ultimate objective of owning and operating a portfolio of quality Manufactured Housing Estates (MHE).

Through this strategy, investors benefit from any development profit associated with the development of the estate and the sale of the individual MHE dwellings to residents, the net rental income generated by the secure, long term Site Agreements with residents and the value of the rental income agreements while retaining ownership of the underlying land which, over time, would be expected to increase in value.

The Fund’s existing projects continue to progress well with current sales rates and feasibilities projecting returns consistent with the Fund’s target. A strong pipeline of attractive opportunities that meet the Fund’s investment criteria are under assessment with the expectation of further acquisitions in the short term.

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