Creating Affordable
Communities Nationwide

Multifamily & Mobile
Home Park Investments

We are committed to providing the highest level of service to our residents, partners, and stakeholders

We are committed to providing the highest level of service to both our residents, partners, and stakeholders.

Pioneer Communities was founded in 2018 with the goal of providing quality affordable housing to hard-working cost-burdened families through the acquisition and operation of manufactured housing communities in select markets across the United States. 

Our approach is founded on an unparalleled commitment to excellence, integrity, and creativity. Pioneer takes an extremely hands-on approach with all of its acquisitions and routinely moves on-site post-closing to oversee the transition of ownership and implementation of the business plan.

Our mission is to provide our residents with safe turnkey affordable housing that they are proud to call home while offering our partners attractive risk-adjusted returns and capital appreciation.

INVESTMENT THESIS

we help you to achieve more

  • Tax Advantages
  • Low Operating
    Expense Ratio
  • Low Price
    Per Unit
  • Capital Markets
    Efficiencies

Mobile home communities provide investors with a variety of tax advantages. Compare the following depreciation schedules between asset classes:

MHC - 15 YRS Multifamily - 27.5 YRS Commercial - 39 YRS

MHCs allow investors to purchase land and rent to tenants who own their homes. MHC owners are only responsible for repairs and maintenance of the land, infrastructure and improvements that they own. This land ownership model provides a much lower expense ratio (35-40%) versus traditional multifamily assets. (50-60%).

A common metric used in multifamily investing is “price per door”. MHCs offer investors one of the lowest price-per-door investment vehicles on the market which provides owners with the ability to spread credit risk amongst a high number of renters.

MHCs offer one of the lowest rates of mortgage default across all other asset classes. As such, Fannie Mae and other agency lenders reported $2.9 billion in MHC lending for 2018, a 56% increase from 2017. It is not uncommon to secure up to 80% LTV on a mobile home community acquisition.

ACQUISITION CRITERIA

our focus

  • Mobile Home Parks

Geography: Nationally focused with an emphasis on the Eastern Seaboard

Property Type: All-age and age-restricted communities

Property Size: Minimum of 50 pads, smaller communities considered in select geographies

Utilities: Public utilities preferred, private utilities considered in select scenarios

POH/TOH: Agnostic

Transaction Size: $1,000,000 - $50,000,000+

Other: Portfolio acquisitions considered

LEADERSHIP

our founders

Luke DeGrossi

Co-Founder & Chief Acquisitions Officer

Luke DeGrossi is Co-Founder Chief Acquisitions Officer at Pioneer Communities where he is responsible for monitoring, maintaining, and reviewing Pioneer’s pipeline, as well as underwriting and modeling cash flows for potential acquisitions.

Prior to co-founding Pioneer Communities, Luke worked at HKS Capital Partners, New York City’s premiere commercial finance brokerage with over $16 billion in transactions. As an associate in their capital markets group, Luke was responsible for structuring debt and equity capital across nationwide commercial transactions spanning permanent financing, ground-up construction, bridge, mezzanine, and acquisition finance. Prior to HKS, Luke worked as an Analyst at RPM Development Group, New Jersey’s leading affordable housing developer, where he managed the daily operations, finance, and accounting for a portfolio of properties in excess of $950,000,000 in value.

Luke holds a dual B.S. in Finance & International Business and a minor in Spanish from Villanova University. Luke also studied at La Universidad de Cadiz in Spain and Columbia University.

Born and raised in Italy, Luke is passionate about traveling, skiing, reading, meditation, and health & fitness. Luke is fluent in Spanish, Italian, and French. He lives in New York, NY where he is a volunteer for the Big Brother Big Sister Foundation of America, and the Chairman of the Board for the Friends of Valence College Preparatory School, a middle school serving underprivileged children in Corona, Queens that he helped establish.

Nick Hakim

Co-Founder & Chief Operating Officer

Nick Hakim is Co-Founder and Chief Operating Officer at Pioneer Communities. Nick is responsible for overseeing all aspects of the due diligence process as well as managing the implementation and oversight of capital improvement plans, and day to day management of Pioneer’s portfolio.

Having held various professional roles since a young age, Nick has more than 11 years of experience in the real estate industry. Prior to co-founding Pioneer, Nick worked at City Urban Realty, a leading commercial real estate investment firm in New York City responsible for more than $500,000,000 in commercial transactions. During his tenure at City Urban, Nick led the acquisitions team in sourcing, repositioning and operating more than $200,000,000 in deals spanning a wide range of asset classes including land, office, multifamily, mixed-use, and ground-up construction.

Nick holds a B.S. in Entrepreneurship & Business Management from Quinnipiac University. Nick is a recipient of the Eagle Scout Award, B.S.A.’s highest honor, and is a Licensed New York State Real Estate Salesperson.

Nick is a frequent guest at the Society of Exchange Counselors (S.E.C.), the Nations premier real estate exchange and investment group.

Born and raised in Upstate New York, Nick is an avid skier, cyclist and outdoorsman.

Scott Tarbet

Executive Chairman

Scott Tarbet has over twelve years of experience in the industry and has spearheaded the acquisition and disposition of $750,000,000 in multi-tenant and single-tenant assets. Over the past decade, he has acquired over fifty assets totaling in excess of 5,500,000 square feet representing $425,000,000 of value. Prior to joining Pioneer as Executive Chairman, Scott served as the Managing Principal of Gibson Avenue Capital, LLC (“GAC”), a value-add real estate investment firm specializing in the acquisition of generational fee simple ground leases, manufactured home communities, retail, and office assets.

Prior to Pioneer and GAC, Scott worked at RCG Ventures, LLC for ten years. Most recently, Scott was SVP and Director of Acquisitions – West Coast for RCG, where, in addition to sourcing all acquisitions, he oversaw the strategy and execution of that platform in the Western United States.

Furthermore, Scott has extensive experience in Real Estate Private Equity. For nearly a decade, Scott has worked with Argonne Capital Group (“ACG”), which is a leading middle market private investment group based in Atlanta, GA, to administer the sale/leaseback, disposition and portfolio lease management for ACG with the primary task of maximizing real estate value by leveraging ACG’s ownership of various operating businesses. Since 2007, Scott has sold and/or restructured over 165 single tenant assets for ACG across six brands (Applebee’s, IHOP, On The Border, Lube Stop, Sonny’s BBQ and Krystal) for a total consideration of $350,000,000.

Scott is a graduate of The University of Georgia with a major in Finance and minor in Spanish. He lives in Buckhead, GA with his wife, Stephanie, daughters, Poppy & Georgie, and his son, Rowan.

Jeremy Gray

Regional Manager

Jeremy Gray joined Pioneer Communities in 2020 as a Regional Manager for the company’s portfolio of manufactured housing communities. Jeremy is responsible for overall management, operations, and oversight of capital improvement plans. He brings over fifteen years of property management experience to Pioneer, with a proven track record of success in all aspects of management and operations in multiple markets throughout the country.

Prior to joining Pioneer, Jeremy worked with two leaders in the manufactured housing industry. He has been involved in a variety of facets within the industry including leasing, joint ventures, community expansion, and acquisitions.

Jeremy holds a B.S. in Business Administration from Union College.

Jeremy is an avid outdoorsman who enjoys camping, fishing, archery and scuba diving with his family. He resides in Dallas, TX with his loving wife, where they are devoted parents to their two amazing sons.

Brett Mufson

Board Member & Head of Investment Committee

Brett Mufson brings over fifteen years of real estate acquisitions and development experience to the Fontainebleau Development team. As President and a Partner in the firm, Mufson is responsible for overseeing all aspects of Fontainebleau Development’s investment strategy, financings, operations and development projects. In line with Fontainebleau’s mission to create dynamic, multi-faceted spaces that connect people and enrich their communities, Brett is committed to developing customer-centric growth strategies to enhance the performance of individual assets and drive business line expansion.

Prior to holding this position, Mufson was the Head of Acquisitions and Capital Markets for Witkoff, a private real estate and development company headquartered in New York City with offices in Los Angeles, Las Vegas and Miami. Mufson successfully led more than $7 billion in development and real property transactions in the hospitality, residential, multi-family, and office sectors throughout the U.S. Brett started his career at Bear Stearns in their mortgage structured products group focusing on highly complex conduit originations and real estate financings. After Bear, Brett joined LoanCore Capital, a $1.5 billion commercial real estate debt fund, where he was responsible for originating, structuring, and underwriting commercial real estate loans across all asset classes.

A graduate of the University of Pennsylvania, Brett is actively involved in many real estate, art, and charitable organizations, including the Whitney Museum, Mount Sinai Hospital, and the New York Private Equity Network (NYPEN). In addition to advising Pioneer Communities, Brett also sits on the board of Current Real Estate Advisors, a cutting-edge real estate leasing and marketing firm. Brett lives in Miami, FL with his wife, Alexa, and his two sons, Cy and Dean Ray.

Parker Klump

Acquisitions Analyst Intern

Parker is an intern at Pioneer Communities and assists with the day-to-day operations of Pioneer’s pipeline.

Refer Us A Deal

Do you have a mobile home park for sale?

LET'S TALK

connect with us today

Pioneer Communities, LLC