Carlyle Group Looks to Sell Trailer-Park Portfolio
West Hollywood-based Carlyle Group is exploring the sale of a portfolio of U.S. mobile-home parks that could fetch as much as $500 million, according to Bloomberg. Potential suitors include property-focused private equity firms and REIT’s.
The portfolio includes 30 properties, mostly located on the East Coast, as Carlyle looks to cash in on the growing popularity of manufactured housing communities. According to a recent report from JLL, occupancy in mobile-home parks reached a record 95.4 percent in 2021 and rents grew to an all-time high during the pandemic.
Firms including Blackstone Inc., TPG Inc. And Apollo Global Management Inc. have been amassing holdings in manufactured housing looking to take advantage of the trend.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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