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Blackstone To Buy About 40 Mobile-home Parks From Summit Communities

by therealdeal.com posted 2weeks ago 17 views
Blackstone is turning its attention to one of the most recession-resistant sectors of real estate. The giant asset manager is planning to buy about 40 mobile-home parks from Summit Communities for about $550 million, according to Bloomberg. Most of the properties are in Florida, the publication reported, citing confidential sources. Blackstone will make the investment through Blackstone Real Estate Income Trust, also known as BREIT. Real estate investment trust Sun Communities also made an offer ... [more] The post Blackstone bets $550M on mobile homes appeared first on The Real Deal Miami.

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