Manufactured Housing Communities, RV Parks and Campgrounds
BBG offers specialized valuation and assessment services for the manufactured housing communities, recreational vehicle parks and campgrounds.
This national specialty practice group was formed to provide the highest quality valuations and assessments required for markets that have demonstrated considerable growth.
In recent years, there has been a boom in manufactured housing purchases primarily due to their affordability compared with single-family, site-built homes. According to an industry report, the manufactured home industry built nearly 95,000 new homes in 2019, which represented about 10 percent of new single-family home starts.
There also has been a steady increase in demand for RVs, driven by both retiring baby-boomers and the millennial generation, who make up 40 percent of RV owners.
The need for valuation and assessment services in the MHC, RV park and campground space has grown considerably within the past few years. BBG’s commitment to a client-focused approach, as well as its leadership in appraisal-related technology will help meet client needs in these niche asset classes.
Lending Sources
In bad times as well as good, the MHC sector also benefits from relatively large lending volumes from a variety of sources:
- Local, Regional and National Banks
- Fannie Mae
- Freddie Mac
- CMBS
- Life Insurance Companies
Erik J. Hanson, MAI
Managing Director - National Practice Leader-MHC
Erik Hanson is a Managing Director at BBG out of the Chicago office. He has nearly 20 years of experience appraising a variety of commercial properties. Property types include apartments, mixed-use properties, light and heavy industrial, retail, recreational land, and others. He has completed a number of going concern appraisals involving hospitality and convenience store properties.
For the past decade Erik has specialized in the appraisal and consulting of manufactured housing communities (MHC’s) and RV Parks/campgrounds. He has appraised and consulted on hundreds of communities across the United States for a wide variety of clients including lenders, attorneys, owners, and investors. Assignments have ranged from single properties to multi-property portfolios. He has appeared as a guest on several MHC related podcasts and contributes to numerous MHC groups on different social media platforms.
Erik earned the MAI designation from the Appraisal Institute in 2014. He served as the 2020 Chapter President for the Wisconsin Chapter of the Appraisal Institute and has spent several years as the Chapter’s Education Chair. Erik attended the Leadership Development Advisory Council (LDAC) for three years and was selected as a Discussion Leader for the 2019 session.
Bundled Services
One-stop shop for valuation + assessment services.
Our Services
Valuation and Assessment Services
- Market study
- Feasibility
- Zoning reports
- Environmental studies
- Title
- Surveys
- Property condition reports
- Appraisals
- Strategic advisory
Advisory Services
- Portfolio valuation
- Organization design and governance
- Financial reporting
- Lease audits
- Tax appeal
- Monitoring
- Cost segregation
- Refinancing
