David Napp Email & Phone Number

Dave has co-founded three highly successful businesses in the land-lease industry over the past 27 years. During this time, his businesses have acquired 220 RV and MH properties with over 71,000 sites and an aggregate value of over $6.5 billion. These platforms have been capitalized and financed by some of the world’s most well-respected institutional investors and real estate lenders. Dave’s first two companies, Encore Communities and Carefree Communities, were sold to public REITs as “best in class” acquisitions in 2004 and 2016, respectively.  Since being founded in 2017, Napp’s third land-lease company, Cove Communities, has assembled an international platform by acquiring 55 MH and RV properties with 20,500 sites in Florida, California, Maine, Georgia, South Carolina, the United Kingdom, and Canada producing over $325 million in annual revenues. Cove’s properties are widely considered the best privately-owned portfolio in the land-lease industry. Cove’s fundamental strategy is to acquire communities and resorts in world-class coastal locations. Cove acquires core assets allowing for measured annual rent increases and annual increases to cash flow and property appreciation. To a lesser extent, Cove also obtains well-located but underperforming, value-add properties that can be repositioned, resulting in higher stabilized returns. Cove’s portfolio construction strategy has led to industry-leading investment returns for over 26 years. Dave is a born entrepreneur with a passion for building, motivating, and leading high-energy, high-performing companies while blending strong results-oriented talent into a single team focused on achieving organizational excellence.