LAS VEGAS, March 2, 2021 /PRNewswire/ — Crystal View Capital Fund II, LLC (“the Fund”) was pleased to announce its recent sale of Southland Mobile Home Community to its investors at the start of the New Year after closing mid-December. The Fund had the privilege of purchasing this 311-site mobile home community for $7.1 million in Louisville, Kentucky after its Acquisition Team located the deal in 2019. The team worked closely with the seller over multiple months and in February of 2020 was able to finalize the purchase. Although this asset was intended to be a long-term hold, the Fund received an attractive unsolicited offer and subsequently a sale occurred just ten months later for $15 million to a buyer who was looking to add a community to their existing portfolio.
“Every now and then a deal comes along that you cannot help but get really excited about; this was one of those deals. The moment we acquired the property we staffed it with a veteran management team who has years of experience in the industry and our company. They were able to create and maintain the relationships we strive to make with our residents, along with executing swiftly on our business plan including much needed community improvements, even amidst a global pandemic,” said Matthew Ricciardella, the Fund’s founder, Principal, and Managing Partner. Matthew explained how the terms of the sale including price and deal terms are a testament to how the in-house asset management company adds value for Fund investors. He goes on to say, “Fund II Investors were pleased with the returns on this investment and our team is proud of what we have been able to accomplish for over the last twelve months since the pandemic began.”
Crystal View Capital is a private equity real estate firm that specializes in the acquisition and management of self-storage facilities and manufactured housing communities.
For more information about the Fund, please visit our website: www.crystalviewcapital.com
Matthew Ricciardella, Principal and Managing Partner
Crystal View Capital
Allie Hunsaker, Investor Relations Manager
Crystal View Capital
T: (702) 570-3956
SOURCE Crystal View Capital