Caddis Capital Investments, LLC, announced the firm has purchased two 55+ manufactured home communities (MHCs) near Phoenix, Arizona for 10.8 million. These two properties include Paradise Valley Ranch, a 168-site active adult community in Paradise Valley, Arizona. The other is Chaparral Ranch, a 100-site active adult community in Apache Junction. Arizona.
Caddis Capital said they worked exclusively with one of the world’s largest structured finance companies to orchestrate this commercial mortgage-backed security
“We were honored to work with a world-class team to acquire these best-in-breed assets,” said Rhett Trees, an equity partner at Caddis Capital Investments. “As we near the closing of our current investment vehicle, Trico Fund III, we are activating millions of dollars to acquire new income producing real estate assets across the Western United States. We are proud to include the residents of Paradise Valley Ranch and Chaparral Ranch in the Caddis Capital Investments family.”
“As a part-time resident of Scottsdale, I could not be more excited to add Paradise Valley Ranch and Chaparral Ranch to our Trico Fund III portfolio,” said Tery Larrew, founder and managing partner at Caddis Capital Investments. “The Arizona market is prime for this type of product with a thriving eco-system for baby-boomers who are passionate about pursuing their retirement goals.”
Caddis Capital Investments is an actively managed, diversified investment firm. Their fundamental thesis is to assemble a diversified portfolio of low-risk, high cash-flow assets with the goal of delivering capital preservation, consistent quarterly cash-on-cash income paired with equity growth. The company says their objective is achieved by acquiring – then adding-value or repositioning – under-valued, mismanaged, sub-performing or improperly capitalized income producing assets.
Caddis Capital is headquartered in Littleton, Colorado, with a satellite office in Scottsdale, Arizona. ##
(Image credit: Caddis Capital logo. Photo Credit: Denver Business Journal)
Article submitted by Sandra Lane to – Daily Business News – MHProNews.