Darby View MHP
Columbus Ohio| Off-Market Acquisition | Q2 2025
Overview
In Q2 2025, we acquired Darby View, a 30-pad mobile home community located in Columbus, Ohio. This off-market acquisition reflects the core strengths of our Fund 4 strategy: stable cash flow from day one, built-in equity at close, and long-term value through efficient operations.
Backed by fixed-rate financing and a resident-owned model, Darby View offers immediate income with minimal capital expenditure needs. And with demand for affordable housing in Columbus continuing to rise, we see strong long-term potential for cash yield and equity growth.
About the Project
Darby View is a fully resident-owned mobile home park, meaning there are no park-owned homes on site. This structure dramatically reduces maintenance overhead and turnover risk while promoting long-term tenant stability. At the time of closing, the community was 100% occupied and fully stabilized.
To further insulate investor returns, we secured 6.15% fixed-rate debt through 2029, ensuring consistent performance even in an uncertain rate environment. Located in a growth corridor of Columbus, the park benefits from strong employment fundamentals, steady population growth, and limited new supply—all of which support rent durability and long-term valuation.
The Challenge
This opportunity arose from a clear market inefficiency: the park was acquired at a 14% discount to its third-party appraisal, generating nearly $300,000 in day-one equity. While the asset was performing well at acquisition, it had not been managed with institutional rigor—offering room for operational improvement, professional oversight, and future scalability within our broader Ohio footprint.
The Plan
Our value-creation strategy at Darby View is focused, tactical, and grounded in fundamentals:
- Day-One Cash Flow
The park was already income-producing at close, delivering immediate returns to Fund 4 investors. - Discounted Purchase Price
By acquiring the asset below its appraised value, we locked in nearly 39% in day-one equity. - Fixed-Rate Financing
Securing 6.15% debt through 2029 preserves yield and shields investors from interest rate volatility. - Operational Scale
Darby View is located near other Sunrise-owned assets in Ohio, allowing for shared staffing, more efficient oversight, and reduced operating costs over time. - Low-CapEx Ownership Structure
With 100% resident-owned homes, we avoid the typical capital costs associated with unit turns and repairs—freeing up more of the NOI for distributions and long-term equity growth. - Institutional Management
We’re bringing in professional systems, clear communication standards, and consistent on-site processes that help drive tenant satisfaction, long-term retention, and enhanced asset value. - Tax-Efficient Structuring
As with all Fund 4 acquisitions, the deal was structured to maximize available depreciation benefits and support investor-friendly outcomes on both a cash and tax basis.
The Outlook
Darby View is a textbook example of what we aim to acquire: a well-located, stable, resident-owned community in a growing market—purchased at a discount and positioned for scalable, tax-advantaged income.
It requires very little to maintain, delivers strong margins out of the gate, and fits seamlessly into our Ohio operations. As we continue to refine operations and optimize management, we expect Darby View to contribute meaningfully to Fund 4’s distribution profile and long-term equity appreciation strategy.
This isn’t a speculative play—it’s a durable income-producing asset that aligns perfectly with our mission: to deliver infinite income and legacy wealth through disciplined, recession-resilient real estate.