The parks, which for decades were mostly owned and operated like small businesses, have proven an attractive investment for private equity firms and large real estate companies.
LOCKPORT, N.Y. — For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York. That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland and down the road from a fast food joint
Institutional investors, led by private equity firms and real estate investment trusts and sometimes funded by pension funds, swoop in to buy mobile home parks.