North carolina mhc Sidecar Webinar - may 2025

On this webinar, Wellings Capital Founder Paul Moore is joined by Managing Partner Benjamin Kahle, Managing Director, Investments Troy Zsofka, and Director of Investor Relations Matt Epstein. The Q&A starts at 31:34.

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Timestamps

00:00 - Welcome, Introduction, and Disclaimer

01:02 - Meet the Leadership Team

01:30 - Wellings Capital at a Glance

02:30 - The Relationship Between Risk & Return

03:19 - The Truth About Risk & Return

03:49 - Our 1st Strategy: Common Equity

04:19 - Syndication Follies

04:44 - Wellings Track Record of Monthly Distributions

05:27 - Our 2nd Strategy: Debt

05:54 - Our 3rd Strategy: Preferred Equity

07:36 - Potentially Missed Opportunity in Oregon

08:17 - Our 4th Strategy: JV Hybrid Equity

09:28 - JV Hybrid Equity Advantages

10:30 - Summary of JV Hybrid Equity

12:18 - Why a Sidecar?

12:56 - The MHC Seller

13:48 - Investment Overview

14:36 - Operator Profile

15:22 - Investment Highlights

15:52 - Sidecar Terms

16:22 - Capital Stack

17:12 - Portfolio Lot Rents

18:16 - Value-Add Opportunities

19:57 - Downside Protection

21:14 - NC MHC Property Locations

21:31 - Raleigh Area Highlights

22:03 - Why We Like Manufactured Home Communities

22:43 - MHCs Are The Top Performing Commercial Real Estate Asset

23:24 - Long-Term Decline In Starter Home Construction 

24:26 - Summary

25:14 - Sidecar Terms

26:25 - Disciplined Investment Process

27:09 - Asset Management Team

27:26 - Preferred Equity Investments

27:32 - Full-Cycle Investments Within Wellings Funds

28:04 - What People Are Saying About Wellings Capital

29:02 - Reasons Not To Invest

29:25 - Next Steps

30:08 - Process & Funding Options

30:24 - Our Mission to Fight Human Trafficking

31:34 - Live Questions & Answers