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The BoaVida Group Details
Assets Under Management$15B
Average IRR12.30%
3.00
The BoaVida Group Website
The BoaVida Group Overview
The BoaVida Group is a privately held real estate investment group which acquires, develops, and operates manufactured housing communities and recreational vehicle (RV) resorts. In 2023, BoaVida has $1.5B of assets under management and operates in 35 states with over 244 individual properties (26,000+ spaces). Eli Weiner, the owner of BoaVida, purchased his first manufactured housing community in 2001 and today brings over two decades of experience to the business.
BoaVida was ranked the No. 1 fastest growing company over three years in the Sacramento region in 2020 by the Sacramento Business Journal, and No. 2 in 2021. Today, BoaVida continues its rapid expansion with 500+ associates nationwide. Our mission is to build community by providing safe, clean, and friendly neighborhoods that create good value for people from all walks of life to grow and thrive.
Address
1910 Terracina Dr
Sacramento,
California
Year Founded
2017
Operates In
California
Asset Classes
Development
Multifamily
Mobile Home Parks
Accepted Investors
Accredited
Kurt N.
3.00
"Mobile Home Park Tax Benefits Outweigh Lower Cash Flow"
The BoaVida Group is a vertically integrated operator of mobile home parks. I have made two investments with this sponsor: one in an individual park and one in a mobile home fund comprising 35 parks. The individual park investment has stopped distributions and did not meet the projected timeline for a quick exit. The fund has maintained quarterly distributions since inception, though these payments have averaged approximately 50% of the original projections. A primary objective for these investments was the first-year bonus depreciation and projected regular cash flow. While the tax benefits materialized as expected, the cash flow has been impacted by general market conditions and elevated interest rates. Communication from the sponsor includes detailed quarterly reports including financials down to the individual park level. Despite the current cash flow performance, I would consider investing with BoaVida Group again if market conditions improve.