The Promising Upside in Manufactured Homes & RVs

Description

This episode uncovers the benefits and intricacies of manufactured homes and RV parks with Michael Nissley, Vice Chair and National Director at Colliers.

The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate.

In this episode, Crexi's Yannis Papadakis sits with Michael to talk about creating and mastering a market niche, the fast-growing popularity of the alternative housing sector, and trends to watch headed into 2024. Their wide-ranging conversation includes:

Introductions and the similarities/differences between a $2 million deal and $200 million deals.
Early lessons learned, favorite mistakes, and discovering the niche that led to founding the Manufactured Housing and RV Group.
The importance of doubling down on personal strengths and assembling a team of complementary skill sets and experiences to maximize success.
The rise of the manufactured housing and RV sector and its history over the last several years.
The fundamentals of the sector and what investors and lenders should look for from an underwriting perspective.
The current state of the RV and manufactured housing investment market and where most interest is originating, and the locations attracting the most attention.
How current macroeconomic factors such as high interest rates, inflation, rising insurance costs, and others are impacting the sector.
Outlook for 2024 and things to keep in mind moving forward.
Rapid-fire questions and sign-offs.
And much more!

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About Michael Nissley:

Michael Nissley is the founding member of the Manufactured Housing & RV Group and leads the team as the Vice Chair and National Director. He works closely with his team to oversee the execution of the team’s Manufactured Home Community, Recreational Vehicle Community, and Land assignments. This includes strategic positioning of offerings, coordination of the financial and underwriting processes, and interaction with key decision makers within industry REITs, large institutional investment firms, family offices, and owner-operators.

Nissley has been an integral part in the sale and appraisals of more than $100 billion of commercial real estate assets, including the 2019 closing of a 24-property Canadian Manufactured Home portfolio that closed at nearly $200 million, which was the most significant Canadian manufactured home, RV Resort and portfolio acquisition for a large Canadian pension fund. In 2022, Mike closed a $114 million MHC Portfolio in Central Florida.

These recent closings have led Nissley to be consistently ranked in the (2019, 2021, 2022) Everest Club recognizing the Top 10% of all Colliers professionals in brokerage, valuation, and corporate solutions across the U.S. business based on revenue production. Before joining Colliers, he was the founder, top producer, and director of the MHRV and Marina groups at CBRE for ten years.

For show notes, past guests, and more CRE content, please check out Crexi’s blog.

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