Sponsor of Delaware Statutory Trust (DST) offerings, Capital Square Realty Advisors (Capital Square) recently announced that an affiliate has acquired three manufactured housing parks. Manufactured houses are commonly known as mobile homes throughout the United States.
The Midwestern manufactured housing parks are located in Indiana and Ohio and total 1,141 rentable lots.
“Manufactured housing communities are an attractive investment opportunity, with increasing demand and a tight market given barriers to new construction across much of the U.S.,” commented Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. He continued, “There are a number of Americans that are either searching for a manufactured vacation home, or are seeking a new housing opportunity as traditional homeownership becomes economically unfeasible for a growing percentage of the population. Today, manufactured housing offers an affordable and high quality alternative.”
|Housing Park Name||Location||# of Lots||Acres|
|Timberbrook||54686 County Road 19, Bristol, IN||567||103|
|Woodlake-Sommerdale||12204 Indianapolis Road, Yoder, IN||338||65|
|Byrne Hill||3601 Hill Road, Toledo, OH||236||34|
“The acquisition of this high quality portfolio represents a significant step forward for Capital Square’s acquisitions team,” said Yogi Singh, vice president of acquisitions with Capital Square Management. “The highly efficient closing of this off-market deal with a publicly traded REIT is a model that we are highly confident that we can replicate in the coming months.”
Capital Square specializes in commercial real estate investment programs for Section 1031 exchange investors and discretionary investors using DSTs.