Wyldecrest Parks’ Chairman will initially head Wyldecrest Parks America and will leverage his team’s operational expertise acquired in the UK with the portfolio management expertise of Heathside Capital to grow the new platform. The new venture will initially focus on acquiring existing assets and portfolios across select geographies that have significant growth potential and consolidate them into a unified operation.
“We see real opportunities in US manufactured home communities – a market that we have explored for some time. We believe the manufactured home communities sector in the US is at the beginning of a transformation cycle and we see significant potential returns for our investors in the establishment of an outstanding investment and operating platform together with Heathside Capital”, Alfie Best says.
Andrei Popovici, Managing Partner of Heathside Capital says: “We have planned this expansion with Mr. Best and Wyldecrest for more than a year and look forward to the creation and management of a substantial portfolio of manufactured home parks across the US in partnership with Wyldecrest Parks America. Demand for US-based assets is very high and provides a compelling investment opportunity as we now can offer to our investors access to the sector’s growing and stable cash flows together with Wyldecrest’s proven operating expertise”.
Heathside Capital is an Atlanta-based real estate investment firm that focuses on value-add investment platforms in US student housing, air cargo facilities and manufactured home communities. Heathside originates and manages properties on behalf of family office, high net worth and institutional investors. Its total equity investment per transaction ranges from $3 million to $50 million.
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