Founded in 1996, Diversified Investments has vast experience in the acquisition, operation and disposition of sizeable portfolios of institutional-grade recreational vehicle resort properties, manufactured home communities and destination campgrounds. Our management team, led by founder Barry L. Haase and COO, David Zweig has a combined 180 years of experience in real estate to maximize returns to the owners.
Since 1997, Diversified has acquired 56 properties with a total value of over $340 million, utilizing equity capital and institutional mortgage financing. In the past 20 years Diversified has acquired and sold 49 properties for a total of over $405 million; 12 of these properties were acquired through a joint venture with a Chicago-based REIT.
Diversified’s current portfolio was acquired for $30 million and is now valued at an estimated $111 million. For investors, RV properties are among the safest and strongest real-estate assets, particularly in times of economic downturn. Our properties are located in thriving, destination locations and attract families and retirees seeking affordable, convenient vacations. Occupancy and NOI is at an all-time high in our resorts particularly based on guests who own their own RV units and rent our sites on a yearly basis. For the middle-income families in our customer base, the annual site rental provides an attractive “second home”, a viable alternative to costly vacations in California, Florida or elsewhere. By leaving their RV unit at the assigned site year-round, these customers save on gasoline and avoid the repeated hassles of unit set-up and take-down.
Diversified prudently operates these communities with a view to selling the properties to investment groups, institutional investors, or private or publicly-traded REITs. Tellingly, two of the wealthiest individuals on Wall Street are directly linked to the RV Resort industry. Berkshire Hathaway (Warren Buffett) owns major manufacturers of RV’s and manufactured homes, namely Forest River and Clayton Homes. Sam Zell is the founder of Equity Lifestyle Properties (ELS), the largest REIT of Manufactured Home and RV Communities in the US. The principals of Diversified have a 21-year relationship with ELS, having sold them 81 properties.