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Cobblestone
Cobblestone is a privately-held real estate company which acquires, repositions, and operates investment-grade manufactured housing communities (MHCs) and RV resort properties in the U.S. We focus on the Sunbelt markets with strong economic and demographic demand drivers.
Formed in 2013, Cobblestone provides institutional investors and investment managers with access to the attractive MHC/RV asset class through proprietary funds, off-market joint ventures, and expert property management, helping sophisticated clients maximize risk-adjusted returns.
Cobblestone creates significant value by assembling portfolios of MHC/RV properties, providing capital injections and professional management, and then selling these improved assets to institutional buyers.
Over the past 25 years, Cobblestone’s leadership team of seasoned real estate executives has collectively acquired and/or managed $3.7 billion of MHC/RV assets, consisting of over 160+ MHC/RV properties comprised of more than 42,000 individual homesites located across the U.S.
Leadership Team
Cobblestone was founded by Erik D. Hagen, Tome Tomaj, and Jason J. Hagen to execute the real estate investment strategies they have refined over 60+ years of combined experience. The leadership team has a strong track record in sourcing, negotiating, and efficiently closing transactions, as well as extensive MHC/RV due diligence and valuation experience in U.S. markets.
In the last decade, the leadership team has acquired, managed, and profitably liquidated several large, multi-state MHC/RV asset portfolios and has launched and run successful proprietary MHC/RV funds.
Erik D. Hagen
Co-Founder, President & Chief Executive Officer
Experience
- Kellogg School of Management at Northwestern University, MBA
- University of Iowa, BBA in Finance
Erik has over 25 years of experience in all aspects of the acquisition, ownership, financing, and management of commercial real estate, including manufactured housing communities, RV resorts, multifamily and retail properties, and property development.
Prior to founding Cobblestone in 2013, Erik was a founder, President and Chief Executive Officer of American Manufactured Communities REIT, Inc. (AMC), the private MHC-focused real estate investment trust based in Oakbrook Terrace, Illinois, from 2011 to 2013. Before joining AMC, Erik served as the Managing Director and Advisory Board Member of Mobile Home Park Investments, Inc. (MHPI) from 2007 through 2011 and as MHPI’s Executive Vice President and Director of Acquisitions from 2003 to 2007. Erik also served as Vice President of Operations of MHPI’s affiliate, Community Management Service, Inc., from 1999 to 2003.
Erik served on the Board of Directors of AMC REIT, Inc., as well as serving as a board member and officer of several industry associations, including the Illinois Affordable Housing Institute and the Illinois Housing Institute.
Tome Tomaj
Co-Founder & Chief Financial Officer
Experience:
- Dolan School of Business at Fairfield University, BS in Finance
Tome has over 18 years of experience in the real estate industry, including manufactured housing communities and RV resorts as well as multifamily underwriting, acquisitions, asset management and disposition and has been involved in the acquisition and asset management of $3.5 billion in real estate and securities. Tome is responsible for structuring Cobblestone’s joint venture arrangements and proprietary investment funds.
Prior to Cobblestone, Tome was a founder and Chief Investment Officer of American Manufactured Communities REIT, Inc. (“AMC”), which owned and operated a portfolio of manufactured housing communities. Before that, Tome was founder and Chief Investment Officer of White River Capital Management LLC, a private investment firm based in Stamford, Connecticut.
Previously, Tome was a Vice President of the North American Real Estate Group of Babcock & Brown LP where he focused on residential and retail investments and developments. Prior to that, Tome was a buy-side REIT analyst at Mercury Partners LLC, a $1 billion real estate dedicated hedge fund.
Jason J. Hagen
Co-Founder & Chief Operating Officer
Experience:
- Ball State University, MS in Information and Communication Sciences
- Truman State University, BA in Psychology
Jason has over 16 years of experience in all aspects of the ownership, financing, and management of manufactured housing communities. Jason led the design and implementation of Cobblestone’s industry-leading manufactured housing community operating platform.
Prior to founding Cobblestone, Jason was a founder and Vice President of Operations of American Manufactured Communities REIT, Inc. (“AMC”), which owned and operated a portfolio of manufactured housing communities. Jason managed Property Operations, Inventory Sales/Financing, Technology Systems and Human Resources. Previously, Jason was the Director of Operations of Mobile Home Park Investments, Inc. (MHPI) which owned and operated a portfolio of manufactured housing community assets. At MHPI, Jason supervised operations of 45 properties across seven states and directed MHPI Leasing, which he formed, and the sales entity, as well as policies and procedures and technology systems across the enterprise.
Jason was a managing business and technology consultant for Accenture and before that was a consultant at Automatic Data Processing.