M2 Communities and JSB Capital Group Complete $63M Acquisition of Manufactured Housing Communities Portfolio in NC
“We are delighted to have partnered with JSB on this acquisition,” said Mitch Roschelle, M2’s Chief Executive Officer. “Manufactured housing communities often offer multiple avenues for experienced owners, operators, and investors to create value, and it just so happens that this portfolio encompasses all of the most compelling avenues. Combined with its location in one of the fastest-growing regions of the country, we are confident in both the strength of this acquisition and the long-term potential it represents.”
Building Scale Through Partnerships
The closing underscores M2’s ability to secure off-market institutional-quality assets and execute complex transactions. By partnering with JSB, and securing debt through Sheridan Capital and 21st Mortgage, M2 assembled a strong capital stack to close the acquisition and launch a comprehensive capital improvement program across the portfolio.
Portfolio Outlook
“Manufactured housing communities are among the most affordable and essential forms of housing in America; preserving and improving them for hardworking families is central to our mission,” said T.K. Frantz, M2’s President & Chief Investment Officer. “We are particularly excited about this acquisition—we’re seeing strong demand for more affordable housing options in these markets—home occupancy in our communities is already at 98%, and with ample vacant lots we see a compelling opportunity to add a significant number of new, high-quality manufactured homes—priced well below traditional stick-built alternatives—expanding access for residents while enhancing long-term value.”
Property Management
M2 has engaged Trubild to oversee the portfolio’s on-the-ground, day-to-day operations. Based in Charleston, SC, Trubild is a well-regarded firm with a proven track record that currently manages more than 5,000 manufactured homesites across the Southeast.
“In addition to assisting with new home infill, we look forward to helping transition these properties into resident-owned-home communities,” said Roby Seed, Trubild’s CEO. “We’ve seen these initiatives work well to enhance pride of ownership and strengthen resident retention while delivering more predictable and durable returns to investors.”
Sector Outlook
Manufactured housing continues to benefit from affordability challenges, limited new housing supply, and strong tenant retention. Supported by stable occupancy and rent growth, the sector remains one of the most compelling and durable real estate investment classes.
About M2 Communities, LLC
M2 Communities is a real estate investment and operating company focused on the acquisition, repositioning, and management of manufactured housing communities across the Southeastern United States. M2 is dedicated to preserving and creating vibrant, safe, and affordable communities for residents while delivering consistent performance for investors.
Website: http://m2-communities.com
About JSB Capital Group, LLC
JSB Capital Group LLC is a private investment management platform that engages in private equity and alternative investments across a broad range of real estate asset classes. Its investment approach is driven by extensive experience and a proprietary network of relationships. JSB seeks to generate outsize risk-adjusted returns through cash-flowing investments characterized by limited exposure to cyclical volatility.
Website: http://jsbcapitalgroup.com
Emma Fuller
M2 Communities, LLC
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