Deals & salesOrganizations: Firm Capital Property Trust, SunPark Communities, Cove CommunitiesBy RISE Community editors
Firm Capital and SunPark buy 11 Western Canada MHCs for $227 million
Firm Capital and SunPark Communities agreed to buy 11 manufactured housing communities in Alberta and Saskatchewan for $227 million, RENX reported.
Key facts
- Firm Capital Property Trust and SunPark Communities LP agreed to buy 11 MHCs with 1,752 sites for $227 million, split 50-50.
- Ten of the communities were coming from Phoenix-based Cove Communities for $218 million, and one Alberta property from a private owner for $8.5 million.
- The purchase included 151 park-owned homes and 192 chattel mortgages with a weighted average rate of 6.46 per cent.
- The communities had 94 per cent combined occupancy, were not under rent control and had a going-in cap rate of 6.4 per cent.
- Once the deals close, SunPark expects to own 2,572 MHC sites in Ontario, Alberta and Saskatchewan.
- Both deals have since closed: the Didsbury, Alberta property first, and the 10 Cove Communities properties on July 21, 2026.
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Read the original at RENX (opens in a new tab)
Source: Firm Capital, SunPark to acquire $227M of W. Canada MHCs — RENX, April 6, 2026. Summary and commentary by RISE Community; read the full story at the source.
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