- NorthStar Realty Finance (NRF) closes the on the purchase of $345M of an approximate $400M manufactured housing portfolio comprised of 16 communities and about 5.9K pad rental sites mostly in Denver, Austin, and Dallas. With this portfolio, NorthStar has accumulated about $1.6B of manufactured housing since 2012.
- CEO David Hamamoto: "The manufactured housing space has consistently demonstrated stable cash flows, steady rental growth, very low turn-over rates and minimal capital expenditures."
- Press release
NorthStar likes manufactured housing
Dec 24 2013, 09:14 ET