Emery Hills MHC – SOLD
FSP purchased a 105-site mobile home community in Augusta, GA in November, 2019.
– only 46 homes were occupied with a significant amount of deferred maintenance
-FSP orchestrated a complete overhaul of the community and the aesthetics of the environment for the tenants
-value add included repaving roads and parking pads, homes were re-skirted and painted, a pavilion was added, and along with general park clean-up
– 48 new manufactured homes were added and leased out to tenants
– Exited only 10 months from acquisition when FSP received an off-market offer, which recognized the value-added to the community, closing in September 2020