Pryor Cashman client Castle Park Investments, a New York-based real estate private equity firm focused on niche investment opportunities, recently announced the completion of a $500 million joint venture with a confidential real estate investing partner. This programmatic investment will focus on core plus and value-add manufactured housing communities ("MHC"), recreational vehicle ("RV") resorts and campground assets across the U.S.
The Venture will target MHC assets in strategic markets across the U.S., where the asset class presents a strong affordability option relative to other forms of housing. The Venture will target RV and campground destination assets where historical performance demonstrates a strong demand for long-term reservations.
The deal was led by Pryor Cashman partners Wayne Heicklen and Danielle Schechner, alongside relationship partner Scott Schirick.
For more information on the deal, please click here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
