Does anyone here have a chart or statistics that could show cap rate trends for non-institutional MHPs? Are cap rates for non-institutional transactions also trending down?
Here is a link to a Fannie Mae reports. However, I believe these are based on institutional transactions.
See the Multifamily Market Commentary – September 2017
@Jeros - Not overly surprising here. Mobile home parks offer a few benefits over apartments that we are all aware of. I wouldn’t be surprised if the spread to multifamily stays tight especially since mobile home parks offer more income stability if the park is mostly tenant owned homes. The secret is out!
The unpredictable economic conditions could change all of that.
@kwm1 Could you share a little more of your thoughts about how this cap rate compression is going to stop or reverse course? Just wondering what you think the cause/effect events are going to be. Thanks!