Madison Ventures+ (MV+), a private/venture equity firm based in West Palm Beach, Florida, has unveiled M2 Communities (M2C), an investment platform focused on manufactured housing communities.
The company has teamed with San Diego-based Muskoka Capital Partners on the new investment platform and its founder, T.K. Frantz, will serve as president and chief investment officer for M2C, which will focus its investments in states experiencing a high number of “transplants,” with initial emphasis on Florida, Georgia, Tennessee, Alabama, North Carolina, South Carolina, Virginia, Texas and Oklahoma.
“I cannot think of a better time than now to help renew the promise of manufactured housing communities,” Frantz said. “The affordability these communities offer, combined with the advancements in building technology and materials make them incredibly attractive. By concentrating M2C’s efforts on those areas with a high migration rate, we will be able to impact communities where it is most needed.”
Bryan Gordon, chairman and CEO of MV+ and M2C, noted, “Manufactured housing has been somewhat ignored by many sophisticated real estate investors. In fact, there have only been about 10 new manufactured housing communities built in the past two decades, and far more than that have gone dark due to redevelopment. The reality is, there is great opportunity in manufactured housing communities, and this is precisely the type of housing investment needed today.”