Havenpark to Invest $70M in Portfolio Revamp
The company will upgrade 46 communities as part of its strategy for 2026.
Havenpark Communities is planning to invest more than $70 million in the improvement and upgrade of some of its U.S. manufactured housing communities.
Havenpark plans to improve 46 communities this year, primarily across the Midwest, West and Sun Belt regions, a company spokesperson told Multi-Housing News. The manufactured housing owner and operator also plans to expand its portfolio primarily in these regions.
A total of 20 communities across the company’s portfolio will each receive more than $1 million dedicated for upgrades, while an additional 26 manufactured housing properties will get more than $500,000.
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The average Havenpark community has about 270 home sites, while 95 percent of the company’s targeted properties include between 100 and 500 home sites.
The investment plan will consist of infrastructure improvements and new or renovated amenities for adding extra value across the entire collection. New and upgraded amenities will include playgrounds, community centers, enhanced utilities, such as signage and lighting, and sports courts.
Havenpark’s $70 million plan builds on the company’s 2025 milestone, when the operator and owner poured $47.3 million in capital improvement projects.
Sector resilience attracts capital
Manufactured housing demand has increased over the past several years, especially since traditional homeownership has become unattainable for many households, a recent report shows.
Only 38 percent of U.S. households currently afford a home—a major decline from the 57 percent from the third quarter of 2020, according to the Housing Affordability Institute. As a result, MHC occupancy in the country stands out at more than 95 percent, near historic highs.
Investors have been increasingly attracted to the sector’s robust fundamentals. Last year, Drake Real Estate Partners closed a more than $515 million fund, targeting mostly manufactured housing and industrial outdoor storage.
