Click here to send MH news, tips, links, documents, facts
or factory-built housing related news story suggestions.

Home > Business, Communities, Company News, home buyers, Manufactured Homes, News Item > PSP Seeks Manufactured Home Communities to Provide Affordable Housing

PSP Seeks Manufactured Home Communities to Provide Affordable Housing

July 22nd, 2015

mhc  creditPark Street Partners (PSP) of Ladera Ranch, California informs MHProNews it has purchased Desert Trails Mobile Home Park in Green River, Wyoming, marking its seventh manufactured home community (MHC), but its first acquisition of the year, according to pressreleaserocket.

Noting the community’s occupancy increased during the closing period, co-founder of PSP Jefferson Lilly said, “We can’t make guarantees about profits, but feel we will likely generate a better than 50% annual return this first year for our limited partners. Judging from some of the large manufactured housing REITs we estimate manufactured housing communities have a beta of around 0.65, and we feel PSP can generate consistent annual returns in the high-teens for our early co-investors. Also important to note is that this asset class is not correlated with stock markets or other real estate niches.

A private equity real estate investment firm (PERE), PSP says its mission is to invest in and improve underperforming MHCs while at the same time offering affordable housing for families in the bottom one-third of income distribution by providing manufactured homes (MH) they can purchase for as little as $550 a month. While actively seeking investors as well as MHCs to acquire, the company also rehabs MH. ##

(Photo credit: thinkstock–manufactured home community)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Matthew Silver - Reporter at Large
Soheyla Kovach - Support Services
L.A. 'Tony' Kovach - Publisher, Editor and Marketing Director. To submit a news tip, please click here:
  1. No comments yet.
Comments are closed.