GCM Grosvenor Invests $60M in Manufactured Housing Communities through Proteus MHP Partnership

Proteus MHP has secured a $60M equity commitment from GCM Grosvenor's Real Estate platform. The investment will be used to launch a programmatic joint venture with Proteus MHP, providing over $150M of buying power to acquire and operate manufactured housing communities across the US. Proteus MHP is a vertically integrated owner-operator founded in 2022, with 21 communities in the Southeast and Great Plains.

Proteus MHP, a private real estate investment and operating firm focused on manufactured housing communities, has announced a significant equity commitment from GCM Grosvenor's Real Estate platform. The investment, valued at $60 million, will be used to launch a programmatic joint venture, providing over $150 million of buying power to acquire and operate manufactured housing communities across the United States [1].

Proteus MHP, founded in 2022 by Bowen Hsu and Marcus Consunji, is a vertically integrated owner-operator that currently owns and operates 21 communities across the Southeast and Great Plains. The firm has three additional assets under contract that will serve as the foundation for this new partnership. With over 30 years of combined real estate experience, Hsu and Consunji have collectively executed more than $5 billion of transactions across multiple asset classes nationwide [1].

The firm's operational platform is built to scale and integrates acquisitions, asset management, and property operations to drive long-term value and resident satisfaction. Proteus MHP targets well-located, underinvested communities where strategic capital improvements and hands-on management can potentially generate attractive, risk-adjusted returns [1].

GCM Grosvenor, a global alternative asset management solutions provider with approximately $82 billion in assets under management, is thrilled to partner with Proteus MHP. The investment is being made by GCM Grosvenor’s Real Estate platform through various GCM Grosvenor-managed investment vehicles. Peter Braffman, Managing Director at GCM Grosvenor, stated, "We are thrilled to partner with Bowen, Marcus, and the Proteus MHP team to scale their thoughtful approach to investing in manufactured housing. Their disciplined execution and strategic vision give us confidence in their ability to deliver long term value" [1].

GCM Grosvenor's Real Estate platform manages over $6 billion in assets and focuses on middle-market opportunities through joint ventures, seed investments, and other strategic partnerships. The platform's approach provides investors with access to niche operators and scalable platforms seeking to outperform in evolving market conditions [1].

Bowen Hsu and Marcus Consunji, Co-Founders of Proteus MHP, expressed their excitement about the partnership, stating, "We are excited to have GCM Grosvenor as a strategic partner in this next chapter of our growth. Their support is a testament to the strength of our team, our platform, and our mission to provide high-quality, attainable housing options to communities across the country. We look forward to a long and successful partnership" [1].

References:
[1] https://finance.yahoo.com/news/proteus-mhp-announces-significant-equity-120000604.html