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America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!

 
Don Draper from Nantucket

User ID: 57553864
United States
09/15/2020 11:54 PM

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America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!
[link to www.zerohedge.com (secure)]


A decade ago, Blackstone Group Inc. became America's largest landlord, purchasing tens of thousands of single-family homes during the foreclosure crisis. Now the private equity firm has spotted the next big opportunity as the virus-induced recession crushes the working poor, that is, betting on mobile-home parks.

The alternative asset manager has made a drastic shift in investment focus in the last 12 months. This time last year, Blackstone was bidding on a portfolio of luxury hotels - now they're in talks to purchase up to 40 mobile-home parks from Summit Communities for $550 million, according to Bloomberg, who spoke with several people with direct knowledge.
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Don Draper from Nantucket  (OP)

User ID: 57553864
United States
09/15/2020 11:57 PM

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Re: America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!
Alright! The big smart money is betting on America going tits up Broke in the near future! Ain't life grand?
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Anonymous Coward
User ID: 77432258
United States
09/16/2020 12:02 AM
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Re: America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!
Looks like they’re anticipating a real estate meltdown resulting in mass foreclosures again. They figure people with poor credit scores will turn to mobile home parks and rental demand will rise as housing prices collapse.

.
PossumZero

User ID: 78357329
United States
09/16/2020 12:03 AM

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Re: America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!
That is just great news, huh? Trying to look on the bright side, we just bought an RV, so maybe we will fit right in if the bottom falls out. Wonder how all of this is going to end? Shall be interesting.

Thanks OP! Great find!

clappa
"The truth of the matter is that you always know the right thing to do. The hard part is doing it."

"America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves."
Don Draper from Nantucket  (OP)

User ID: 57553864
United States
09/16/2020 03:16 AM

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Re: America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!
That is just great news, huh? Trying to look on the bright side, we just bought an RV, so maybe we will fit right in if the bottom falls out. Wonder how all of this is going to end? Shall be interesting.

Thanks OP! Great find!

clappa
 Quoting: PossumZero


Yep best of luck! Were gonna need it I thinkhf
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson
Anonymous Coward
User ID: 73839315
United States
09/16/2020 03:19 AM
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Re: America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!
I keep getting some Chinese guy that wants to buy my house and land and when I say no he gets fucking pissed off.
Don Draper from Nantucket  (OP)

User ID: 57553864
United States
09/16/2020 03:21 AM

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Re: America's Largest Landlord To Make $550 Million Bet On TRAILER PARKS!
I keep getting some Chinese guy that wants to buy my house and land and when I say no he gets fucking pissed off.
 Quoting: Anonymous Coward 73839315


Well you know what they say about making a chinaman angry!
Too late too late will be the cry!
Jury Nullification, learn it, live it!
If ignorance is bliss than knock the smile off my face.
Everyone has a plan til they get punched in the face. M Tyson





GLP