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Carlyle Group Adds to its Manufactured Home Community Portfolio

April 17th, 2017

(Royal Manor Estates MHC: credit therealdeal)

MHProNews has learned from TheRealDeal that Washington, D. C.-based Carlyle Group, one of the world’s largest investment firms with over $178 billion of assets, according to its website, has added 437-homesite Royal Manor Mobile Home Estates in Boynton Beach, Fla. to its portfolio of MHCs.

Financing the deal with a $26.4 million mortgage from Berkadia, Carlyle paid owner Beverlee Miller Raymond $26.4 million for the property, equivalent to $104,000 for each homesite in the community restricted to 55-year old residents. Including a lake and clubhouse, the 85-acre property is situated four miles from the Atlantic Ocean, just south of West Palm Beach.

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(Royal Manor Estates credit: therealdeal)

As MHProNews reported Jan. 18, 2016, Carlyle invested $42 million in Pacific Skies Estates MHC in Pacifica, California to upgrade that community with 93 new manufactured homes that will be rented to residents. That story is linked here.

Carlyle Group is one of the stocks MHProNews covers in its daily stock report, linked here. ##

 

(Image credits are as shown above.)

 

Submitted by Matthew J. Silver to Daily Business News for MHProNews.


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  1. J Dougherty
    April 19th, 2017 at 09:04 | #1

    Did Carlyle pay $45.448 million for 437 sites, borrowing $26.4 million ($104,000/site)? Or did they borrow $26.4 million, pay her $26.4 million as the article says ($26.4 million/437 sites = $60,400/site)? Please clarify, thank you.

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