jonshay.com

We’re excited to announce the record-breaking sale of Denver Cascade, a 382-site manufactured housing community in Federal Heights, Colorado—the highest-priced manufactured housing sale in state history, highlighting the growing demand for affordable housing.

Representing Denver Cascade LLC required precise execution. Engaging 90 investors owning 1,500+ communities across 42 states, we created a competitive, transparent process that delivered exceptional results.

Navigating Colorado’s tenant right of first refusal laws brought challenges, but our trusted partners helped ensure a smooth transaction. This achievement was possible because of our team’s strength—Myles and I have partnered on 174 transactions across 29 states, totaling $638 million in sales.

This sale isn’t just a state record—it’s the largest non-coastal manufactured housing transaction in the U.S. this year. Thinking about selling? Whether you need broad exposure or a discreet process, let’s connect to discuss your next steps.

Please feel free to reach out to me:

(303) 583-2034 | jon.shay@cbre.com

or my CBRE colleague Myles McGinnis:

(303) 824-4730 | myles.mcginnis@cbre.com

The Fed's decision to hold interest rates aims to manage inflation, impacting the manufactured housing market (MHC). Amid a 7.3 million unit housing shortage, MHCs stand resilient despite a decline in new homes shipped, due to restrictive zoning and land-use challenges. Population growth, especially in Sunbelt metros, drives demand for affordable housing, with low lot vacancy rates persisting. Legislative actions, like rent caps, and the Fed's monetary policy have slowed MHC transactions, yet investor interest remains strong. Borrowing costs have risen, but there's optimism for a rebound as the Fed may recalibrate rates. Demographic trends, particularly the growth of the 55-plus demographic, ensure continued demand in MHCs, presenting a stable investment opportunity despite economic fluctuations. The sector's relevance grows as it addresses U.S. housing affordability, with expert insights indicating a robust future for MHC investments.

https://www.linkedin.com/pulse/balancing-act-fed-interest-rates-mhc-investing-jon-shay-lljcc/

Please feel free to reach out to me:

(303) 583-2034 | jon.shay@cbre.com

or my CBRE colleague Myles McGinnis:

(303) 824-4730 | myles.mcginnis@cbre.com

The article linked below discusses the challenges and opportunities facing investors in mobile home parks in Colorado and centers on the Whitehaven Mobile Home Park in Steamboat Springs, which received an offer at $3.2 million. The residents, took advantage of a 2022 law allowing them to assign their right-of-first-refusal to a nonprofit or public entity. The Yampa Valley Housing Authority, anonymous donors and a favorable loan, stepped in and bought the park, planning to transition ownership to residents in 2026.

This case is an example of recent legislative efforts in Colorado to hamper investors in the state's over 400+ mobile home parks from investing in these communities. The new laws have led to creative solutions - like the one our team came up with, to find the best possible outcome for our client.

For investors, this shift presents challenges. The new laws and growing trend of community-owned parks could limit the potential for profit through rent increases. The legislature continues to beat the drum of rent control as well.

https://www.denverpost.com/2023/05/28/colorado-mobile-home-parks-new-legislation/?share=omewmiep0tr5oamtipen

Our team can be reached via:

email: jon.shay@cbre.com

direct: (303) 583-2034

JUST CLOSED!!

After our client asked for us to bring them an offer on Whitehaven, we transacted on this 24 lot asset in Steamboat Springs $150k above the original asking price and at a 4% cap rate. We are happy to advise on both acquisitions and dispositions of Manufactured Home Community assets nationwide!

Our team can be reached via:

email: jon.shay@cbre.com

direct: (303) 583-2034

JUST CLOSED! We had Sixteen offers from nine states (shown above with offers from each state), including two offers at the asking price of $3,700,000. There was interest from investors in eleven states, with over forty-four Confidentiality Agreements executed. The most interest came from Colorado, which had at least eleven CAs signed during the marketing period. CBRE was able to generate the majority of interest from investors outside of Colorado, which illustrates, in part, the value of working with a professional broker, especially one with a rolodex with over 8,900 potential manufactured housing investors. If you or a fellow community owner you know are considering selling, or if you just want to know what your community is worth, please reach out for a free evaluation.

Our team can be reached via:

email: jon.shay@cbre.com

direct: (303) 583-2034

New Pricing:

Hickory Grove, a 34 space manufactured home community in Ames, Iowa. Just down the road from Iowa State. Now Priced at $1,150,000. Please call or email for details.

AmesMobileHomePark.com

Made some friends taking the UAV out for a spin

Coming Soon: 215 spaces in a Midwestern college town. New(ish) build, city utils, big lots. More info to come.

If you're not on our distribution list, shoot me an email!

Under Contract:

Whitehaven, a 28 space manufactured home community in Steamboat Springs. Near some of the best powder, best fishing, and in the middle of one of the great Colorado Resort Towns. Under contract 5% above asking price!

Just Listed:

Hickory Grove, a 34 space manufactured home community in Ames, Iowa. Just down the road from Iowa State. Link in Bio. Please call or email for details.

AmesMobileHomePark.com

Coming Soon:

34 space community in Ames, just down the road from Iowa State University.

AmesMobileHomePark.com

Just Listed:

40 space community in Johnstown, Colorado. City sewer, city water, all homes tenant owned.

ParadiseVillageMHC.com

Just Listed:

83 space Cedar Falls Iowa Portfolio. Tenants direct billed for all or most utilities, city sewer and water, all within minutes of each other and all managed by the same individual. Good sellers.

www.cedarfallsportfolio.com

Housing demand set records in the third quarter. This shows the population growth over the housing growth since 2010. Buying high quality housing anywhere there's less housing being built than folks moving there should prove a good strategy.

See Report Here

Happy to join my friend Ferd Neimann on his podcast which you can listen to by clicking the above image or:

Apple Podcasts

Audible

Happy to announce our Davenport deal has closed.

Just listed! 50 space Table Mesa Village in Boulder!

• irreplaceable location

• rental and utility upside

• extraordinary tenant profile