Welcome to an excerpt from The Sunstone Standard, a monthly newsletter sharing intel and insights into our work in the MH/RV industry.
7-Property Manufactured Housing Portfolio | North Carolina
A recent transaction involved the successful sale of a 7-property manufactured housing portfolio totaling 399 sites in the greater Lumberton, North Carolina area, marketed out of receivership on behalf of a multi-party lender group. The portfolio featured average lot rents of $579/month with 57% occupancy, including 172 park-owned homes, split between occupied and vacant, presenting a clear value-add opportunity.
Through a competitive process that generated multiple offers, Sunstone secured a highly capable buyer who executed with a 10% non-refundable deposit and no due diligence period, delivering a certain outcome for the seller.
The transaction also required North Carolina bankruptcy court approval and coordination across both real estate and chattel lenders, underscoring Sunstone’s ability to execute complex, distressed MHC transactions.
Distressed assets are trading, but only when execution is clear and credible. In this market certainty wins.
