ORLANDO, Fla., May 1, 2019 /PRNewswire/ -- Orlando-based real estate investment company, Elevation Capital Group, and its affiliates, ("Elevation") recently announced that its current investment fund, MHPI VII, LLC ("Fund 7"), has reached $100 million in subscriptions. In response to this milestone, the Manager of Fund 7 has increased the Maximum Offering Amount of Fund 7 to $150 million. No further increase is expected.
With over than 500 Members, Fund 7 is Elevation's 7th investment offering to date. Fund 7 is comprised of a mix of both storage facilities and manufactured housing communities, and controls more than 7,500 units across 19 assets in 7 states. The Fund is currently making monthly distributions to its Members and expects distributions to continue for the foreseeable future though distributions are not guaranteed.
"The growth of Fund 7 is a testament to the quality and discipline of our team. While we are making great progress towards the stated objectives, there is still work to be done," said Ryan Smith, Principal, Elevation Capital Group. "We are committed to building strong partnerships with our investors and assets alike as we continue to grow this fund to its goal of $150 million."
Elevation is a respected leader in the alternative real estate investment arena. The company focuses exclusively on two niche property types: manufactured housing communities and storage facilities. Elevation, through its affiliates, has acquired properties worth more than $475 million and has an interest in over 175 assets across more than 30 states.
While no date can be known, Elevation expects to close Fund 7 to new investments in 2019.
This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein.
THE OFFERING REFERENCED HEREIN IS MADE ONLY BY THE PRIVATE PLACEMENT MEMORANDUM. THIS MATERIAL MUST BE READ IN CONJUNCTION WITH THE PRIVATE PLACEMENT MEMORANDUM IN ORDER TO UNDERSTAND FULLY ALL OF THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES ASSOCIATED WITH AN INVESTMENT IN THE SECURITIES TO WHICH IT RELATES AND MUST NOT BE RELIED UPON TO MAKE AN INVESTMENT DECISION.
The offering of securities described herein will not be registered under the Securities Act of 1933 (the "Securities Act") or the securities laws of any state and the securities are being offered and sold in reliance on exemptions from the registration requirements of the Securities Act and such laws. Neither the Securities and Exchange Commission nor any other federal or state agency has passed upon the merits of or given their approval to the offering of the securities, the terms of the offering or the accuracy or completeness of the offering materials. The offering of securities is being made only to Accredited Investors, as defined in Rule 501(a) of Regulation D of the Securities Act. An investment in the securities is highly speculative and involves substantial investment and tax risks. All prospective investors must review the Private Placement Memorandum in its entirety, including the section entitled "RISK FACTORS" before investing.
SOURCE Elevation Capital Group