The Sunstone Standard | October 2026

Deal Desk

Q3 Deal Round Up

Q3 brought continued transaction activity across Sunstone’s national MH/RV platform, from smaller private-client transactions to large multi-property portfolios.

Buyers remained active but disciplined, with operational upside, strong in-place performance, and certainty of execution continuing to shape successful outcomes.

Q3 at a Glance:

Northeast Alabama Portfolio, Alabama: Five communities totaling 283 sites offered immediate scale and multiple paths to value creation through lease-up, infill, home optimization, and rent growth.

Prairie Place, Bloomington, Illinois: A fully occupied, 37-site community attracted 10 offers, ultimately closing with a qualified buyer who had lender approval in place from the outset.

Illinois Portfolio: Deal terms confidential.

~30-Site Community, Illinois: Part of a portfolio consolidation, the 87% occupied community offered stable operations with near-term upside through infill and rent growth.

~50 Site Community, Polk County, Florida: This off-market sale of an approximately 50-site community paired 94% occupancy with additional upside in both lot and home rents.

~50-Site Community, Terre Haute/Evansville Corridor, Indiana: A 50-site, 91% occupied community with an all resident-owned home base closed two weeks ahead of schedule.

Texas Portfolio: Deal terms confidential.

~20-Site Community, Dickinson, Texas: A 20-site community was matched off-market with a repeat Sunstone buyer and closed at full asking price with no re-trades.

~40-Site Community, Texas City, Texas: The off-market sale of a 40-site community brought together repeat Sunstone clients on both sides of the transaction, with nine vacant sites providing clear infill potential.

Market Minute

A Resilient Asset Class in a Changing Capital Market

By: Zach Koucos and Chris Collins, Sunstone Capital Advisors

As capital markets adjust to a prolonged higher-rate environment, investors and lenders are searching for sectors offering stable cash flow, defensive fundamentals, and long-term growth. While rising rates, refinancing challenges, and valuation pressure have weighed on traditional property sectors, manufactured housing continues to benefit from a structural shortage of affordable housing, limited new supply, and occupancy near historic highs.

For investors, the sector delivers durable cash flow, inflation-resistant growth, and recession-resilient demand tied to an essential need. For lenders, it offers assets with proven operating fundamentals and growing institutional acceptance. Manufactured housing is no longer a niche strategy; it is becoming a core component of commercial real estate.

Sunstone Capital Advisors’ recent experience reinforces this view. Over the last few weeks, SCA closed nine transactions, a pace that stands out in today’s market. By casting a wide net across the lender pool and staying engaged through volatile conditions, SCA matched each transaction with capital suited to its needs. The results confirm that manufactured housing remains a resilient asset class that attracts capital when the right lending partners are at the table.

Please reach out Zach Koucos (ZKoucos@SunstoneREA.com) or Chris Collins (CCollins@SunstoneREA.com) with any questions on the MH/RV capital markets.

Inside Sunstone

Employee Spotlight: Stefen Krizsa, Managing Director, Underwriting | Celebrating 14 Years at Sunstone

This month, we’re recognizing Stefen Krizsa and his fourteen-year anniversary with Sunstone. During his time with Sunstone, Stefen has helped grow sales in an increasingly competitive market while bringing more than a decade of MH/RV industry experience to the team. We asked Stefen to reflect on his time at Sunstone, what he’s learned along the way, and something his colleagues might not know about him.

What are you most proud of from your time at Sunstone?

I’m most proud of helping the team grow sales in an increasingly competitive market while learning from and working with some of the greatest and most respected people in the industry.

What’s one lesson you’ve learned from working in the MH/RV industry?

I’ve learned how important it is to adapt to change while still focusing on the fundamentals. During my 14 years in the industry, it has evolved and changed very quickly.

What’s something your colleagues might be surprised to learn about you?

I grew up as an Army brat and lived in several states, plus spent three years in Stuttgart, Germany.

Congratulations to Stefen on 14 years with Sunstone.