Stonetown actively invests in affordable housing primarily in the manufactured housing space. Leveraging deep real estate experience in acquisitions, dispositions, joint ventures, restructurings and financings, Stonetown has a unique ability to identify value, structure deals, close transactions and execute on accretive business plans.
Since its inception, Stonetown has purchased in excess of 7,000 affordable housing units in 59 manufactured home communities and 2 apartment complexes in the Midwest and Southwestern United States. Cairn Communities, a wholly owned subsidiary of Stonetown, manages the majority of Stonetown’s assets.
To date, the Company has focused its acquisition activity and created operating pods in the greater Chicago, Dallas/Fort Worth, Houston and Oklahoma City metropolitan areas where it believes that low cost housing alternatives are positioned to benefit from continued job and population growth as well as aggregation efficiencies.
Stonetown’s typical investments represent opportunities to invest fresh capital into an older property to increase quality, livability, community, occupancy and financial performance.