Baltimore Terrace Mobile Home Park in Hastings on Monday, April 17, 2023. After the mobile home park was purchased by hedge fund-linked investment firm, some residents say the water quality is poor and repairs are being ignored while rent prices have increased. (Cory Morse | MLive.com)Cory Morse | MLive.com
Big-pocketed investors have built a thick portfolio of Michigan mobile home parks – with one in 10 now owned by private equity firms.
In recent years, mobile home parks across the country have been purchased by investors at a rapid pace. But a new tracker released this week by the Private Equity Stakeholder Project, a watchdog group, reveals the full scope of private equity’s stake in manufactured housing.
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