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Blackstone Looking To Buy Mobile Home Parks In $550M Deal | National Real Estate Investor

by nreionline.com posted 1week ago 18 views
The firm is in negotiations to acquire about 40 mobile home parks, most in Florida, from Summit Communities. : (Bloomberg)—Blackstone Group Inc. is pouring more cash into mobile-home parks, a corner of the commercial real estate market that is holding up in the pandemic. The alternative asset manager is in exclusive talks to acquire roughly 40 parks from Summit Communities for about $550 million, according to people with knowledge of the matter. The majority of the properties are located in Florida, said some of the people, who requested anonymity because the transaction isn’t public.

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