Hi Guys,
I am trying to research the average cap rate histroy for parks in the US. If anyone could post this information from 2000 to present, I would really appreciate it.
Thanks.
I’ve been buying parks since before 2000 and, although I don’t have any statistical evidence, my bet is that cap rates were at around 9%+ in 2000, and then plummeted to around 7% in about 2005 and then back again to 9%+ today. But that’s a really hard question to answer, because if you include the cap rates that REITs use, then the numbers are probably a further 1 to 2 points lower. The bottom line is that park cap rates have always been higher than the other forms of commercial real estate. MHI might have some statistics on this.