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Manufactured Housing Community Buyer Identified

Following an earlier story regarding Killam Properties of Canada’s sale of 2,308 New Brunswick manufactured housing homesites for $69 million, MHProNews has learned the buyer is Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN). The eleven communities, all in Atlantic Canada and primarily in scenic rural areas, include Pine Tree Village, a high-end community of 828 modern sites adjacent to a golf course, according to wsj.com. With this acquisition, the company’s portfolio includes 29 manufactured home communities comprised of 6,178 land lease sites located in and near major urban centers across Canada and in Dublin, Ireland. CAPREIT also owns a portfolio of 35,372 other residential units.

(Photo credit: Antigonish, Nova Scotia–North Grant Park community)

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