News

Capstone Manufactured Housing is pleased to offer two mobile home parks in Alabama: Avalon Park and Highridge.

Avalon Park is a 217-site community in Auburn, AL. This high-end park, which boasts an ideal location, is poised to reap the benefits from an ever-expanding college town. The gated park has multiple attractive characteristics including a RUBS system for utility recapture, paved off-site parking, and unique amenities including a clubhouse and pool. Current ownership has done an impressive job of maintaining top-tier amenities and adding newer homes, ensuring Avalon maintains its elite status in the market. Consistently strong occupancy of 97% demonstrates the demand for this high-quality affordable housing in the area. This park presents the opportunity for a scaled entry with a turn-key asset into the robust rental market of Auburn, AL.

Investment Highlights

Ideally located with advantageous proximity to main travel channels.
Thriving affordable housing market with consistent occupancy and strong rental growth.
Expanding Auburn economy.

Capstone is also pleased to present Highridge Mobile Home Park in Phenix City, AL. This asset is well located along the Alabama-Georgia border within the Columbus MSA. Featuring a serene wooded setting with excellent proximity to the region, this property showcases an optimal family environment. There are several value-add opportunities at Highridge including room for rental growth, as well as occupancy upside. New ownership has the opportunity to acquire a well-maintained asset with rental upside in a flourishing market.

 

Investment Highlights

Well-Maintained Asset
Lot Rents Currently 23% Below Market Rate
Opportunity to Implement Annual Lot Rent Increases
Sub-Metered City Water/Sewer

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Capstone Closes $16.9 Million Sale of 299-Unit Apartment Community in Greensboro, NC

Capstone Apartment Partners has closed the $16.9 million sale of Brannon Park: a 299-unit garden-style apartment community in the Northeast Greensboro submarket, situated within one mile of two grocery stores, several restaurants, and retail outlets. The tree-lined property sits on nearly 24 acres, with 13 three-story apartment buildings nestled around a small lake.

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