Institutions are becoming increasingly interested in manufactured housing.
To name one recent example, Blackstone Group is in exclusive talks to acquire about 40 parks from Summit Communities for roughly $550 million through its REIT, Blackstone Real Estate Income Trust, according to Bloomberg.
These investors are drawn to the sector for its resiliency and upwardly trending valuations. But there are some possible clouds to this otherwise bright business case, namely the disproportionate share of lower-paying jobs lost in the retail, hospitality and leisure sectors. In recent market commentary, Tanya Zahalak, senior multifamily economist for Fannie Mae pointed out that these job losses could "have had a negative impact on MHC [Manufactured Housing Communities] and investor interest. However, to date, that doesn't appear to be the case."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
