November 21, 2024 2:27 pm
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NY investor buys 4 more metro Phoenix mobile home parks

North Phoenix mobile home. / Apartments.com.

By Catherine Reagor | Arizona Republic

Metro Phoenix’s most affordable housing is in high demand, not only with a growing number of renters but also with one of the world’s biggest real-estate investors.

New York-based Blackstone Real Estate Investment just spent $55 million for four Valley mobile-home parks, according to public real-estate records. That’s on top of the $120 million it spent last year snatching up nine mobile home parks.

Investors bought more than 50 metro Phoenix trailer and other manufactured-home parks in 2018, according to an Arizona Republic analysis. That’s a record for the area.

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