By some estimates, ranked as the largest private equity firm in the world with $193 billion in assets under management, the Washington, D. C.-based Carlyle Group has invested in another manufactured home community (MHC) in California, according to bizjournals. As MHProNews reported Sept. 22, 2015, Carlyle took part ownership in Pacific Skies Estates MHC overlooking the Pacific Ocean, intending to upgrade the community.

The new acquisition, Sunnyvale’s Plaza Del Rey, is huge by comparison to Pacific Skies, which has 93 home sites. Plaza Del Rey counts 722 home sites sprawled over 85 acres, and with a sale price of an estimated $180 million, the cost comes to about $250,000 per site.

In contrast to Pacific Skies where Carlyle plans on acquiring high-end manufactured homes and renting them out, the multi-national company intends to maintain Plaza Del Rey as owner-occupied MH and rent the home sites.

Carlyle entered the MHC ownership market when it acquired two Florida MHCs in 2013 for $30.8 million. ##

(Photo credit: yahoolocal–Plaza Del Rey MHC)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.