CLEARWATER, Fla. — Sunrise Capital Investors LLC, a private equity firm specializing in manufactured housing communities and parking facilities, has acquired Mobile Acres, a 100-lot manufactured housing community in Ashtabula, Ohio. The community was 94% occupied at acquisition, with 74 of its 94 homes owned by residents.
Ashtabula is home to employers across manufacturing, healthcare, education, and tourism, including Ashtabula County Medical Center, Advanced Products Corporation, and Molded Fiber Glass Companies. With median household income of roughly $44,000 and an average home price near $122,000, the market has a durable need for attainable housing options.
“Mobile Acres has been owned by the same family for more than thirty years. It’s clean, in great condition, and mostly resident-owned,” said Kevin Bupp, Chief Investment Officer of Sunrise Capital, in a release. “Our plan is to fill the remaining vacant lots with new homes and invest in the community through improvements like roadwork and landscaping.”
“Our approach has remained the same for years: buy with a margin of safety, protect the downside first, and build value through steady operations,” said Brian Spear, Chief Executive Officer of Sunrise Capital.
Founded in 2014, Sunrise Capital Investors is a Florida-based private equity firm focused on manufactured housing and parking facility investments. With over $475 million in assets under management, Sunrise focuses on acquiring recession-resilient assets that generate durable cash flow and support long-term wealth creation.
