QuadReal Property is continuing to invest in manufactured housing. This time, the developer has purchased two communities in Colorado, acquiring 100 percent direct interest in them for $240 million.
While it's unclear what specific regions the portfolio is located in, QuadReal noted in a statement that they are located in "key submarkets" in the Centennial State.
The two assets offer residents outdoor amenities including pools, recreation and big community centers.
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The deal adds to QuadReal's more than 3,500 manufactured housing pads it has already stashed in its portfolio. It also follows the eight-property manufactured housing portfolio it acquired for $330 million in November. The assets are in major U.S. markets, including Dallas, Austin, Salt Lake City, and Orlando. Additionally, QuadReal acquired four multifamily Class A properties totaling 1,400 units in August 2024. One of those assets was purchased in Denver.
The Vancouver, Canada-based firm owns over 124,000 residential units globally, with more than 32,700 of them in the U.S.
“As a leading provider of housing globally, QuadReal is committed to expanding its portfolio of quality housing options across a variety of residential types,” Daniel Gliksman, managing director at QuadReal, said regarding the company's latest purchase.
“This latest acquisition enhances our growing U.S. manufactured housing portfolio and reflects our strong residential conviction, globally.”
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