Rents spike as big-pocketed investors buy mobile home parks | iNFOnews | Thompson-Okanagan's News Source infotel.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from infotel.ca Daily Mail and Mail on Sunday newspapers.
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.
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