We endeavor to continually enhance our mobile home park investment platform in order to provide an excellent return on investment for our equity partners, reliably repay debt to our lenders and more importantly to continue to perpetuate the stock of affordable housing for thousands of deserving families.
Keith is the Founder and Managing Partner of Lotmoxie, a real estate owner / operator focused on manufactured housing park investments. Prior to Lotmoxie, Keith worked for 13 years at Wachovia Bank as SVP of corporate banking and Area Manager of the commercial real estate group, then the following 20 years as founder and managing partner of various real estate and other operating companies including Renaissance Capital – commercial mortgage banking, Renaissance Real Estate / SVN – commercial real estate brokerage, Remington Development – office development, Vivendi Development – apartment development, a real estate investment company that owns timber and farm land in eastern North Carolina and Adventurequest RV Rentals – RV rental dealership.
BA – University of North Carolina at Chapel Hill
Beth is a Corporate Manager of Lotmoxie whose responsibilities center around real estate management tasks such as lease modifications and renewals, annual insurance audit and renewal, property tax payment and appeals, 3rd party management interaction and forest management plan coordination and cash management including payables, receivables, creation of company financials and tax preparation. Prior to Lotmoxie over the last 8 years, Beth has worked with the various real estate and operating companies owned by Keith.
BS – University of North Carolina at Chapel Hill
Our acquisition efforts focus on stabilized parks that provide an attractive income stream and value-add parks that typically renders higher yields for bearing the additional turnaround risk.
During the turnaround we stabilize the park, convert mobile home rentals to sales, lower operating expenses and reduce lot vacancy.
The goal is to increase the net income and maximize operational efficiency, ultimately seeking a successful and profitable exit strategy.
We have a long term hold orientation preferring to keep our MHPs indefinitely, however occasionally we may explore market opportunities resulting in a shorter term hold period of 5 to 10 years, with the intent to exit through individual project sales, roll-up or portfolio sale.