Factory-Built Housing Manufacturing

Vertically integrated factory-built housing platform. Acquires and operates HUD-code home manufacturing plants, distribution, and retail dealer networks.

Fund Size

$1.070B

Target committed capital

Target Net IRR

15–20%

Objective, not a guarantee

Investor Relations Back to Funds

Strategy

Where the fund invests

HUD-code manufactured home plants with regional distribution reach.
Modular and off-site housing manufacturing serving MHC and workforce demand.
Retail dealer acquisitions in TetraHomes MHC markets.
Vertical integration between manufacturing and community demand.
Chattel financing integration through Investment Fund VI.

Objectives

What the fund targets

Fund Size$1.070B

Target Net IRR15–20%

Target Multiple2.2–2.8x

SectorFactory-Built Housing

Terms

Investment Fund III terms

Vehicle

Delaware limited partnership

Adviser

TetraHomes Advisers, LLC (SEC RIA, in filing)

Fund Term

10 years, plus two 1-year GP extensions

Investment Period

First 5 years

Waterfall

European whole-fund

LP Fees

None — 0%

Preferred Return

8% cumulative to LPs

GP Catch-Up

100% until 20/80 restored

Carried Interest

20% above preferred

Carry Escrow

30% through fund term

GP Commit

2% of fund size

Minimum LP Commit

$2,000,000

Auditor

PricewaterhouseCoopers

Fund Counsel

LePore Law Group

Definitive terms are set out in the Fund’s Private Placement Memorandum, Limited Partnership Agreement, and Subscription Agreement. Please consult the fund materials and legal counsel before subscribing.

Interested in Investment Fund III?

Institutional and qualified investors are invited to request the Private Placement Memorandum and Subscription Agreement.

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