By Catherine Reagor | The Republic
A Washington, D.C.-based investor paid $230 million for four older Mesa mobile home parks on Monday, upping its stake in Arizona’s affordable housing market.
The Carlyle Group bought more than 1,000 mobile and manufactured home lots in four parks built mostly in the 1960s and 1970s, according to public real estate records.
The investor owns a handful of other mobile home parks in metro Phoenix as well as dozens of others across the U.S.
Metro Phoenix’s most affordable housing is in high demand, not only with a growing number of renters but with some of the world’s biggest real-estate investors. Since 2017, investors have spent more than half a billion dollars on mobile and manufactured home parks in the Phoenix area.