Juniper Square’s recent research backs this up. In their soon-to-be-released capital raising survey, 84% of the respondents said they believe the market is getting more competitive, which points to significant upside potential for investment managers who use technology solutions to automate administrative work so they can reallocate the time saved to dealmaking.

Read the full article here

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Yes, mobile homes often get a bad rap. But their values have been rising faster than single-family homes, according to a recent report from online financial services marketplace LendingTree. These homes have become even more appealing recently as they support the on-the-go, work-from-home lifestyle during the COVID-19 pandemic.

“Because single-family home prices are so high, some middle-class buyers—especially younger ones—could increasingly turn to mobile homes,” says LendingTree senior economic analyst Jacob Channel. “Even though the value of single-family homes is rising very quickly, the lower price point of mobile homes allows for an even faster ascent.”

LendingTree compared the median prices of mobile homes and single-family homes in all states except for Hawaii using the most recent U.S. Census Bureau data available between 2014 and 2019. Analysts found that while mobile homes are far less expensive than single-family homes, their median values escalated faster in 27 states than that of single-family homes over the same five-year period.

The median value of a mobile home was $53,300 and they have appreciated 39% from 2014 to 2019, according to the report. That’s 6 percentage points higher than the median appreciation of single-family homes. And mobile homes are a fraction of the price, costing about $190,000 less than single-family homes.

“Millennials are definitely getting priced out of the current real estate market,” says Jason Dorsey, a generational expert at the Center for Generational Kinetics, which does market research on millennials and Generation Y.

These folks may be experiencing bidding war fatigue as they compete for and often lose out on properties in today’s seller’s market.

“We’re seeing a lot of pressure on millennials to come up with even larger down payments as well as the higher monthly mortgage and holding costs,” adds Dorsey.

The most affordable mobile homes are in Nebraska, where the median home value is $21,800 appreciating by 8% over the past five years. That’s compared with a median of $172,700 for single-family homes in the state, where homes are appreciating by an eye-popping 29%.

Iowa had the second lowest-priced mobile homes, with median values of $23,300 with 15% appreciation.

“Millennials are taking a new interest in mobile homes because it fits their remote or hybrid work lifestyle as well as potentially giving them more options for green space and flexibility of geography,” says Dorsey. “We expect this trend to continue as long as home prices stay elevated and hybrid or remote work continues to be an option.”

The post Millennials Eye the Mobile Home Market Amid Record-High Housing Prices appeared first on Cobblestone.

Evercore acted as the exclusive financial advisor to Cobblestone.

About Cobblestone:

Cobblestone Real Estate is a privately-held real estate company which acquires, repositions, and operates investment-grade manufactured housing communities (MHC) and RV resort properties in the U.S. Cobblestone focuses on the Sunbelt markets with strong economic and demographic demand drivers. Formed in 2013, Cobblestone provides institutional investors and investment managers with access to the MHC asset class through proprietary funds, off-market joint ventures, and property management. Over the past 20 years, Cobblestone’s leadership team has collectively acquired and/or managed $2.2 billion of MHC/RV assets, consisting of over 116 MHC/RV properties comprised of more than 33,000 individual home sites located across the U.S.

About Silverpeak:

Silverpeak Real Estate Partners (“Silverpeak”) is a US-focused real estate investment firm specializing in the acquisition and management of real estate investments across various funds, joint ventures, and separate accounts. Since inception in 2010, Silverpeak and its investment partners have acquired over 225 separate investments totaling more than $21 billion in gross asset value across property types and U.S. geographies. Investments include direct property, platforms and real estate companies, as well as development opportunities alongside experienced partners.

The post Cobblestone Real Estate Completes Manufactured Housing Joint Venture appeared first on Cobblestone.

As both companies are committed to bringing a superior experience to their customers, the partnership between CRP/CRE Homes and Northpoint is ideal. CRP/CRE Homes delivers the best experience possible to its customers by providing quality products and other community improvements that result in affordable living in beautiful, active, and desirable neighborhoods.  Northpoint shares their vision of providing customers unmatched service and results through exceptional support, swift solutions, and innovative ideas.

The post CRP/CRE Homes Awarded 2020 Top Dealer Award appeared first on Cobblestone.

To read more, visit the link below!

https://www.businesswire.com/news/home/20191218005660/en/Cobblestone-Announces-Closing-Real-Estate-Fund

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“We are very pleased with the outcome of the TLC sale process, and we would like to thank our operating partner, Cobblestone, for its meaningful contribution to making TLC a successful investment for Tricon and its shareholders,” said Gary Berman, President and CEO of Tricon Capital. “We intend to apply the net proceeds of the sale largely to reduce our corporate-level debt and create additional flexibility for future investments. TLC has served us well as a stable and predictable business, and we remain committed to expanding our sources of recurring cash flows through our single-family and multifamily
rental businesses which have a much clearer path to scale.” Eastdil Secured acted as Tricon’s financial advisor in connection with the sale of the TLC portfolio.

About Tricon Capital Group Inc.
Tricon is a principal investor and asset manager focused on the residential real estate industry in North America with approximately $5.4 billion (C$7.1 billion) of assets under management. Tricon owns, or manages on behalf of third party investors, a portfolio of investments in land and homebuilding assets, single-family rental homes and multifamily development projects. Our business objective is to invest for investment income and capital appreciation through our Principal Investment business and to earn fee income through our Private Funds and Advisory business. Since its inception in 1988, Tricon has invested in real estate and development projects valued at approximately $19 billion. More information about Tricon is available at www.triconcapital.com.

View the Press Release 7-3-2018

The post Tricon Capital Group Completes the Sale of its Manufactured Housing Portfolio appeared first on Cobblestone.

Read the full article.

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CREC is brought together a prestigious group of investors and operators to discuss Niche Real Estate Strategies (Parking, Mobile Home Communities, Storage and Senior Living) – arguably some of the strongest sectors in the real estate market. This discussion featured the investment of each company and its impact to our communities in the future.

Panel:
Moderator, Joseph Calvanico of Loop Capital Financial Consulting
William Glascott, Managing Director, Deputy Chief Investment Officer – Greene Courte Partners
Erik Hagen, President & Chief Executive Officer – Cobblestone Real Estate
Chris Scheuerman, Director of Finance – Banner Real Estate Group
Chad Wells, Senior Vice President of Finance and Real Estate – InterPark

L-R David Horwitch , Joseph Calvanico, William Glascott, Erik Hagen, Chris Scheuerman, Chad Wells, James E Smith

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