Arx Fund I Acquires Gloucester County Premier Manufactured Home Community
Arx Fund I, L.P. announced it has completed the purchase of Lake Acres Mobile Home Park in Gloucester County, New Jersey. Situated on approximately 8 acres, the community contains 43 homesites, which are 100% occupied.
Nathan Jameson, Managing Director for Arx Capital, commented, “Lake Acres is a beautiful quaint community in a progressive area of New Jersey. We are happy to be able to offer high quality affordable housing in an up-and-coming town. Lake Acres adds to our growing presence in the area and enables us to leverage management efficiencies to everyone’s benefit.”
Arx will work to enhance the home inventory and improve overall curb appeal over the next couple years, making this a community a place each resident is happy to call home. Lake Acres is located just outside of Vineland with easy access to Atlantic City and Philadelphia.
Arx Fund I, L.P. acquires, improves and manages manufactured home communities. Organized in 2020, the Fund currently owns 13 manufactured home communities in New Jersey, Pennsylvania, and Maryland.
The sponsor of the Fund is Arx Capital, LLC. Arx Capital is a real estate investment sponsor specializing in value-add and opportunistic investments in the Northeastern and Mid-Atlantic United States. Arx’s principals have more than 20 years’ experience investing in, permitting, developing, and selling real estate. Organized in 2016, Arx Capital manages real estate assets valued at nearly $75 million.