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, sources have told Bloomberg. 

Once acquired, BREIT will invest in upgrades, including building shared facilities such as swimming pools, a source told Bloomberg.

Manufactured homes have become a valued asset class in the commercial real estate sector, one of the few categories that have not been bowed  by the pandemic. Indeed, in a recent report JLL predicted that institutional investment activity in the manufactured housing sector will increase as the sector's recessionary resilient performance outshines the majority of commercial real estate sectors. 

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.