Midwest Portfolio (incl. Harbourtown Mobile Home Park)
6 manufactured Housing properties in 3 states · sponsored by MHC Capital
Active offeringLatest Form D filed Apr 9, 2026 (opens in a new tab)
Midwest Portfolio (incl. Harbourtown Mobile Home Park) is a DST sponsored by MHC Capital that owns 6 manufactured Housing properties in 3 states. Its latest Form D, filed Apr 9, 2026, lists a $83 million offering with a $100,000 minimum.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $83,028,472Equity offered, per the Form D
- Sold so far
- None reported as of Apr 9, 2026Form D, Apr 9, 2026
- Selling commissions
- Form D Item 15; the % is our arithmetic$10,000,908 · 12.0% of offering
- Financing
- Sources disagreeThe financing classification on record says leveraged (mortgage debt); the profile says “debt-free”. How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Sales so far
- Latest Form D
- Apr 9, 2026 · 1 filing
No sales reported in a Form D amendment yet. Latest notice Apr 9, 2026.
Weighing this offering for your exchange? A licensed 1031 specialist from our affiliated partner can go through these filings with you.
Ask a 1031 specialist about this recordFree. About: Midwest Portfolio (incl. Harbourtown Mobile Home Park). Top1031 is not a broker-dealer.No photo on record. Multiple property locations are on record; no single map.
What does the Trust own?
An SEC mortgage document places the communities across four states: eight in Ohio, five in Indiana, one in Michigan and one in Wisconsin. 2 On the underwritten rent roll dated March 1, 2026, 66.6% of pads were leased; of the 1,775 pads carrying homes, 87.7% were occupied. 2 Vermilion Daily, citing county records, reported Harbourtown transferred from Harbourtown JV LLC to the Trust for $17,918,874 on March 5, 2026. 3
- Property address
- 6320 Poorman Road North (Harbourtown, 228 pads), Swanton, OH
- Property size
- 2,335 pads / 15 communities
How is it financed, and what did it cost to sell?
The Trust holds the communities subject to a $54 million first mortgage rather than owning them debt-free, so the lender's claim sits ahead of investor equity. 2 That loan was pooled into a commercial mortgage bond deal and sold to bond investors; its underwriting appears in the public record. 2
Debt
- Financing
- Sources disagree The financing classification on record says leveraged (mortgage debt); the profile says “debt-free”.
- May convert to a REIT (721)
Costs and terms from the Form D
- Selling commissions
- $10,000,908 · 12.0% of offering
- Finders’ fees
- $717,563
- Paid to officers, directors and promoters
- $0 · 0.0% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- S2K Financial LLC · CRD 248786
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $100,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together.
What are the deal terms?
From MHC Capital’s offering documents (Mar 2026).
Your exit
- Can the sponsor's affiliate buy investors out?
- Yes, after 3 years
From the first investor's closing; expires in year 5.
Rent and the bills
- Who pays rent to the trust?
- A master tenant affiliated with the sponsor
- Who pays for roof and structural repairs?
- The tenant or master tenant
- Who pays if taxes or insurance go up?
- The tenant or master tenant
- Was the property bought from a sponsor affiliate?
- Yes
Your rights
- Can investors remove the manager?
- Only for cause
- How are disputes with the sponsor resolved?
- Mandatory arbitration
Who's behind the Trust?
MHC Capital sponsors the Trust; its Form D names MHC Capital V, LLC as sponsor and promoter. 1 AltsWire reported on August 4, 2026 that the offering had publicly launched the prior week, and that, on MHC Capital's account, the Trust acquired some communities in March 2026 from MHC Stable Income Fund I and Fund II. 4 Marketplace listings name S2K Financial as dealer manager.
- Sponsor
- Offerings on record
What does the SEC record show?
- Legal Trust name
- MHC Affordable Housing DST V
- SEC CIK
- 2128351
- First Form D
- Apr 9, 2026
- Latest Form D
- Apr 9, 2026
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $83,028,472 | $0 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- Is Midwest Portfolio (incl. Harbourtown Mobile Home Park) an active offering?
- Midwest Portfolio (incl. Harbourtown Mobile Home Park) is an Active offering: its latest Form D was filed Apr 9, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What does this Trust actually own?
- Fifteen manufactured-housing communities in the Midwest. An SEC mortgage prospectus describes 2,335 pads across eight Ohio properties, five in Indiana, one in Michigan and one in Wisconsin, with Harbourtown in Vermilion, Ohio (228 pads) among the named assets. Other named communities include Whispering Pines in Warsaw, Indiana (220 pads), Maple Grove in Kendallville, Indiana (251 pads), Arrowhead Lake in Swanton, Ohio (246 pads), Friendly Village in Adrian, Michigan (179 pads) and Colonial in Kendallville, Indiana (137 pads). S2K Financial's listing for the same portfolio describes 2,334 sites; the two counts come from different publishers and are preserved as published.
- Who pays the rent?
- Residents pay rent on individual pads, under short leases, rather than one company paying rent on one building. The SEC mortgage prospectus states the Trust leases the properties to an affiliated master tenant under a master lease, and that the master tenant is responsible for property-level operations and pad-level leasing. Some pads are leased directly to third-party residents; others pass through a master sublease to affiliated subtenants before reaching residents.
- How is the portfolio financed?
- With a $54,000,000 first-priority mortgage secured by the Trust's fee interests in all 15 properties, according to the BANK5 2026-5YR21 mortgage prospectus filed with the SEC. That prospectus reports a 41.3% cut-off-date loan-to-value ratio and a 1.85x underwritten net-cash-flow debt-service-coverage ratio, both underwriting measures rather than realized results, against an appraised value of $130,690,000 as of January 9, 2026 that includes a portfolio premium. The loan was pooled into a commercial mortgage bond sold to bond investors.
- How full were the communities when the loan was underwritten?
- The SEC mortgage prospectus reports 66.6% of all pads leased on the underwritten rent roll dated March 1, 2026. The same document says 1,775 of the 2,335 pads carried homes, and that 87.7% of those pads with homes were occupied. The gap between the two figures is vacant land pads with no home sitting on them. Both numbers describe the whole portfolio, not Harbourtown alone.
- How does this Trust relate to MHC Capital's earlier funds?
- AltsWire, reporting MHC Capital's account on August 4, 2026, said the Trust acquired some of the communities in March 2026 from MHC Stable Income Fund I and MHC Stable Income Fund II, two earlier MHC Capital vehicles. Separately, Vermilion Daily reported, citing Erie County property records, that Harbourtown Mobile Home Park transferred from Harbourtown JV LLC to the Trust for $17,918,874 on March 5, 2026.
- Can investors exchange into REIT units at the end?
- No. The record for this Trust shows no 721 or UPREIT exit, the structure in which a DST's property is later contributed to a real estate investment trust in return for operating-partnership units. Without that feature, an exit would come through a sale or refinancing of the communities, with the terms governed by the trust agreement and the offering documents.
In the news
Sources
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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.