Has anyone bought parks from a large owner?


#1

Ideally, you’d buy from “mom and pop.” But has anyone purchased a park from a large owner (1,000+ lots)? Do these guys even ever sell? Curious to hear any and all experiences!


#2

I personally have not. However, I definitely would and hear from a lot of folks that have bought from larger operators. I’m working with one right now and while it can be a little intimidating and you’re probably thinking you’re getting screwed over somehow, there’s plenty of reasons they may want to sell that have nothing to do with it being a bad property.

  1. They have lots of equity in the park they want to recapture
  2. The park no longer fits their “investment criteria”
  3. They want to roll the proceeds into something bigger
  4. It’s an outlier and doesn’t add any efficiency to their portfolio …etc. etc. etc.

If it seems like a good deal then I would check into it further. If they’re that good there’s also likely to be a reason they bought it in the first place! Good luck! - Kyle


#3

Yes, it happens. Every asset has a cycle. Some larger operators have capital time horizons. It really depends on what type of park you are trying to buy.


#4

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