GMF Group Closes $250M MHC Fund
The vehicle is expected to add to the 40-plus properties it’s acquired so far.

GMF Group has closed GMF Group Fund II, an approximately $250 million fund aimed at acquiring manufactured housing properties across the U.S.
So far, the company purchased 43 properties through the fund, encompassing nearly 4,000 homesites in North Carolina and Florida. The fund is currently close to purchasing five more mobile home communities in the Southeast and Midwest regions, which would add 400 homesites to GMF Group’s footprint.
Led by Co-Founders & Managing Partners Gabe Monfried and Matt Forssman, the company will also use parts of the funds raised to further improve the manufactured housing communities that are currently part of its portfolio. To date, GMF has spent nearly $30 million on property upgrades, including common spaces and amenities renovations, infrastructure upgrades, new paving and landscaping, as well as adding additional mobile homes.
According to Monfried, manufactured housing remains an overlooked asset class with a lot of potential. GMF intends to continue to capitalize on opportunities in the space, while also enhancing their operational performance.
The closing of Fund II comes after the company secured a significant CMBS refinancing package for its Florida MHC portfolio. Citigroup provided a $65 million loan for 17 properties.