Chatham Estates in Cary is under contract for $30 million, as manufactured housing continues to draw investor interest. The deal joins other North Carolina mobile home park activity, amid interest in communities that can provide lower-cost housing.
The Cary Deal
North Branch Partners says its investments span alternative real estate sectors and special situations, and include both affordable and market-rate housing, according to the company website. Separately, Chatham Estates in Cary is under contract for $30 million, according to The News & Observer.
A Statewide Rush on Manufactured Housing
Manufactured-home parks have drawn investor interest in North Carolina.
Separate North Carolina deals illustrate the activity. A mobile home park in Rocky Mount sold for more than $4 million. Other reporting has noted that investors are targeting mobile home parks amid rising housing costs statewide.
Why Manufactured Housing Keeps Attracting Buyers
Manufactured homes make up about 13% of North Carolina's housing stock.
Rising housing costs have added to affordability concerns statewide.
Chatham County itself stood out in the Kenan Institute's analysis, recording the smallest drop in affordability among all North Carolina counties during that five-year stretch, per the institute's findings. The steepest declines were elsewhere, with Watauga County, home to Boone, logging the lowest housing affordability in the state, where median home payments exceeded 60% of median household income. For a fuller county-by-county picture, the North Carolina Housing Coalition has released 2026 County Profiles meant to show how affordability has shifted in recent years.
Notice for Residents
If a community is being converted to another use and residents will have to move their homes, North Carolina law requires the owner to give manufactured-home owners at least 180 days’ notice before they must vacate and move, according to G.S. 42-14.3.
The Chatham Estates deal is another data point in a market where affordability and investor appetite are increasingly colliding.
