One of the most resilient asset classes in commercial real estate is Mobile Home Parks. Almost no new parks have been built in the last couple decades, and many parks are being repurposed for higher and better use. Mobile Home Parks are the most affordable housing option that has wide appeal to renters getting squeezed by inflation. Patrick McDonald, Principal of Community Management Group, owns and operates 26 parks, mostly in the Northwest. He is fully vertically integrated and has occupancy of 98% across his parks. Given the scarcity of these parks, Patrick is a long-term holder and targets a return of capital via refinance within five to six years.
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