Cook Properties Acquires 488 pad mobile home park portfolio in Rochester MSA

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On September 17, Cook Properties acquired the interests in a four park portfolio consisting of 488 pads in the Rochester NY MSA. The four parks are located in the towns of Canandaigua, Farmington, and Batavia. “We are very excited about this purchase. The properties have been professionally managed for years but there is still upside through filling vacant pads and economies of scale, given we already own several properties in the area and our corporate offices are local too.”

We are anticipating equity returns in the low-mid teens throughout our hold period. Financing was arranged by Gerry DiMarco and Pierce Redmond of Security Mortgage, also based in Rochester NY. “The guys at Security Mortgage did a great job. We certainly will continue to work with them in the future.”

Since Jan 1, 2020 Cook Properties has closed on four mobile home parks and storage facility properties totaling $31.5mm. “It has a been a solid year so far.  Although there have been some challenges due to COVID, we have been able to work around them and adjust our operations accordingly. We have another $20mm under contract that we plan to close on before the end of the year.”

Cook Properties is a family owned and operated real estate development company. It was founded in 1997 by Jeffrey Cook. Brian Cook joined the family operation in 2010. We operate 32 multi tenanted properties across New York State. Our portfolio consists of mobile home parks, storage facilities, apartments, office buildings, and retail plazas. Our mobile home park portfolio consists of 26 communities with 2000 pads. Our retail and office properties measure 220,000 sf and we operate 5 storage facilities with 2000 units. 

Cook Properties Fund 20 is a newly launched $100mm Private Equity Fund soley focused on purchasing mobile home parks and storage facilities in NY, MA, OH, and PA. The fund offers stable double digit returns through the purchase of cash flowing properties with measurable upside.

For more information, contact Jeffrey Cook at 585-233-4699 or email jcookproperties@gmail.com.

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