What kind of mobile home parks does Keel Team buy?

C-grade, all-age communities in landlord-friendly states, primarily in the central United States, with 50 or more lots and public utilities. The ideal purchase is cash-flowing, inside an MSA and around 70% occupied so value can be added by infilling the vacant lots. Parks where water, sewer and trash are still bundled into rent are also favoured, because submetering and billing residents back cuts the expense line.

How do passive investors take part in a deal?

Through private placements. The firm states that all securities offerings by it and its affiliates are private placements, restricted to people with whom it has a prior, established business relationship and who meet applicable investor standards, and that contacting the company does not entitle anyone to participate in a current or future offering.

Lease-up consultants

Keel Team

Keel Team is a mobile home park and self-storage investment company. It buys, operates and turns around under-managed manufactured housing communities for its own account and for passive investors, and raises the equity for those deals through private placements. It is not a third-party manager for hire: the site's calls to action are for investors to join offerings and for owners and brokers to bring it a deal.

Its acquisition filter is narrow. The firm targets C-grade, all-age communities in landlord-friendly states, mainly in the central United States, with 50 or more lots, public utilities, a location inside an MSA and occupancy around 70% so vacant lots can be infilled. The value-add work is infilling homes on those lots, installing submeters and billing residents back for water, sewer and trash, clearing deferred maintenance, and tightening management, collections and operating costs. Investor participation is by private placement only, restricted to people with a prior established business relationship who meet applicable investor standards.

Keel Team describes itself as an MHU Top 100 owner with more than 3,750 lots under management, having owned and operated over 58 manufactured housing communities and currently managing more than 50 across 15-plus states, with a portfolio over $200M in assets under management. Its first park, a 67-lot community in Edwardsville, Illinois, closed on June 30, 2017 and was refinanced into long-term Fannie Mae debt in 2019. The site publishes numbered case studies of individual parks, an eBook for new investors, articles and a podcast on the asset class.

Anyone approaching Keel Team should expect an acquisition or investment conversation rather than a service engagement. Investors should read the offering documents: the site states plainly that contacting the company does not entitle anyone to buy or take part in any offering.

Best for

Owners and brokers with a 50-plus lot, partly vacant park in the central U.S. looking for a buyer, and investors wanting passive manufactured housing exposure. Not a third-party management or infill consulting firm for hire.

What they do

Mobile home park acquisitions
Turnaround operation of under-managed communities
Lot infill programs
Utility submetering and bill-back
Self-storage acquisitions and operations
Private placement syndications for passive investors
Joint ventures with owners and deal sources
Published case studies and investor education

What stands out

Describes itself as an MHU Top 100 owner with more than 3,750 lots under management.
Says it has owned and operated over 58 manufactured housing communities and currently manages more than 50 across 15-plus states.
Reports a commercial real estate portfolio over $200M in assets under management.
Its first park, a 67-lot community in Edwardsville, Illinois, closed in June 2017 and was refinanced with Fannie Mae in 2019.
Targets C-grade all-age parks with 50 or more lots, public utilities and roughly 70% occupancy.

Common questions

What kind of mobile home parks does Keel Team buy?: C-grade, all-age communities in landlord-friendly states, primarily in the central United States, with 50 or more lots and public utilities. The ideal purchase is cash-flowing, inside an MSA and around 70% occupied so value can be added by infilling the vacant lots. Parks where water, sewer and trash are still bundled into rent are also favoured, because submetering and billing residents back cuts the expense line.
How do passive investors take part in a deal?: Through private placements. The firm states that all securities offerings by it and its affiliates are private placements, restricted to people with whom it has a prior, established business relationship and who meet applicable investor standards, and that contacting the company does not entitle anyone to participate in a current or future offering.