Crow Holdings Announces Manufactured Housing Portfolio Acquisition
Summary
DALLAS--(BUSINESS WIRE)--Crow Holdings, a leading national real estate investment and development firm, announced today the acquisition of a privately owned 46-property, 9,838-pad, all-age manufactured housing portfolio across Ohio, Missouri, Illinois, Indiana, Montana, and Florida. Within the first 12 months, CHC plans to invest more than $30 million to improve the manufactured housing communities with meaningful renovations of park infrastructure such as playgrounds, clubhouses, and other amenities through the commitment of significant capital. “Given the high cost of homeownership driven by increasing home prices and mortgage rates, manufactured housing communities are extremely attractive options for residents,” said Bob McClain, CEO of Crow Holdings Capital. In addition, CHC is completing three ground-up developments of manufactured housing communities in North Texas that will bring more than 1,000 new homes to that market, each with large, Class A amenity centers, pool, playground, bus stops, dog parks, and basketball and pickleball courts. With 20 offices across the U.S., Crow Holdings’ local, on-the-ground presence amplifies its hands-on capabilities across a broad range of investment strategies, product types, and ventures in partnership with institutional investors.