Case Study
Tierra Linda
Mobile Home Park • Hermiston, OR
Due to our experience providing workforce manufactured housing in tertiary markets like Herrmiston, we saw the opportunity in this off-market acquisition. Hermiston’s demand drivers include agriculture and logistics/distribution centers. After buying the property from the family that originally built the park, we implemented our full “value-add playbook,” including installing new homes, renovating in-place homes, and improving community safety with a new perimeter fence.
Unit Count
107
Acquisition Type
Value-add
Market Profile
Tertiary
Purchase Price
$3,800,000
Valuation Upon Refinancing
$5,340,000
Equity Multiple
1.8X
Resident Wins
New Perimeter Fence
New Signage
New Laundry Equipment
New Manufactured Homes
Investor Wins
