Mobile Home Park Investments
Disciplined Investment Approach to Manufactured Housing— One of America's Most Resilient Asset Classes
One of America's most resilient and supply-constrained asset classes — targeting consistent cash flow, potential tax advantages, and strong risk-adjusted returns.
Investment Thesis
A Misunderstood Asset.
An Unmistakable Opportunity.
Mobile home parks are among the most supply-constrained asset classes in America. New zoning restrictions make new parks nearly impossible to build — meaning existing communities are generally considered irreplaceable. Dayan Capital and its partners acquire, improve, and operate these communities seeking to deliver attractive risk-adjusted cash flow to investors.
Alignment of Interests
Aligned to Prioritize Investor Capital
8% Targeted Preferred Return
Investors receive a targeted 8% preferred return before the Sponsor participates in any profits.
Capital-First Waterfall
No promote is paid until all investor capital is returned in full.
Accredited Investors Only
Investments are open exclusively to accredited investors as defined under SEC Regulation D.
Bonus Depreciation Advantage
Potential Tax Advantages Through Bonus Depreciation
Through cost segregation and bonus depreciation, investments in Dayan Capital deals may generate significant paper losses of an estimated 1.7× to 2× in the year of investment, subject to deal-specific factors. Depending on individual tax circumstances, investors may be able to offset certain types of income. Tax treatment varies; consult a qualified tax advisor before investing.
Read: MHC Bonus Depreciation Guide →Subject to deal-specific factors and individual tax circumstances — consult a qualified tax advisor.
Deal Structure
At a Glance
The Industry Case
Why Manufactured Housing Communities Outperform
Highly Constrained New Supply
Municipal opposition to new MHC development makes new communities nearly impossible to permit. Unlike apartments or industrial, this asset class is difficult to replicate — existing parks represent scarce infrastructure with a structural demand advantage.
25 Years of NOI Growth
The MHC sector has historically delivered 25 consecutive years of positive cash flow growth since 2000, estimated at a 5.3% CAGR — historically outperforming traditional multi-family REITs by approximately 210 basis points. Source: Sun Communities, Inc. (NYSE: SUI) Investor Presentation, March 2025. Past performance is not indicative of future results.
Counter-Cyclical Demand
Demand for affordable housing has been historically resilient across economic cycles. In periods of growth, lot rents capture rising household formation; in downturns, residents have historically moved to MHCs from more expensive alternatives — supporting occupancy across conditions.
Significant Tax Advantages Through Bonus Depreciation
Current tax law may allow accelerated depreciation of certain infrastructure components. Infrastructure (roads, utilities, water/sewer) may be eligible for significant first-year expensing — potentially generating substantial paper tax losses. Individual tax treatment varies; consult a qualified tax advisor.
Manufactured Housing Communities were historically one of the strongest-performing real estate sectors in both the 2008–2009 financial crisis and the 2020 COVID-19 recession — outperforming retail, office, multifamily, industrial, lodging, and other property types in NOI growth. Source: Green Street Advisors, Commercial Property Outlook, 2020. Past performance is not indicative of future results.
Educational Resources
Understand the MHC Asset Class
Before investing, understand why manufactured housing communities are structurally advantaged — and what the real risks are. We publish free educational content on every dimension of the asset class.
Mobile Home Park Investing Guide
The complete guide to MHC investing — economics, operations, tax, and how to evaluate a deal.
MHC Returns Explained
How NOI growth, cap rate dynamics, leverage, and tax benefits build the typical MHC IRR.
Risks of Mobile Home Park Investing
Infrastructure liabilities, regulatory risk, rent control, and operator risk explained in full.
MHC vs. Multifamily
Side-by-side comparison of operating expense ratios, turnover, supply, and tax treatment.
Why MHCs Are Supply Constrained
Zoning, municipal opposition, and the economics that make new MHC development nearly impossible.
MHC Bonus Depreciation
Why MHC asset composition creates one of the most favorable bonus depreciation profiles in real estate.
Ready to Learn More?
We work with accredited investors on select opportunities. Contact us to request information about our investment approach.
Any investment opportunity will be made available only through formal offering documents.
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