NorthStar Realty Finance Corp. has agreed to sell its 135 manufactured housing communities to an affiliate of a real estate fund managed by Brookfield Asset Management Inc. for $2.04 billion or about $61,800/pad site.
A portion of the purchase price includes Brookfield assuming $1.27 billion of outstanding mortgage notes encumbering the portfolio.
The manufactured housing portfolio consists of 33,010 pads in 135 communities in 13 states. In...
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