One of the world’s most influential private equity firms is eyeballing the financial potential of manufactured housing.
According to a Bloomberg report
citing unnamed “people with knowledge of the matter,” Blackstone Group LP has purchased a portfolio of 14 manufactured housing communities sold by Tricon Capital Group Inc. for approximately $172 million. Neither Blackstone nor Triton have publicly announced the transaction and both companies declined to comment on the Bloomberg report.
Blackstone’s reported foray into manufacturing housing communities represents the latest by a major institutional investor in this housing sector. Other firms that have been active in this sector include Singapore’s sovereign wealth fund GIC Pte., Centerbridge Partners LP, Apollo Global Management LLC and Carlyle Group LP.