Thursday, October 29, 2015

Carlyle Buys Second Bay Area Mobile Home Park

Determined to get the little guy's money at all costs The Carlyle Group will buy Plaza del Rey mobile home park in Sunnyvale, California for a reported $180 million.  If they can't get your retirement money they'll take your rent, maybe the whole house.

Update 11-26-17:  Mountain View Voice reported:  "A couple years ago, the Carlyle Group, a global private equity firm, paid $151 million to acquire Plaza Del Rey, one of the city's largest mobile home parks. Ever since, the park's residents have been hammered by the steepest rent increases in the park's history, said Judy Pavlick, founder of the Sunnyvale Mobile Home Park Alliance. In negotiation meetings, Carlyle executives told Pavlick they were watching nearby markets to see what prices Sunnyvale could bear."Poor Judy, greed came to her neighborhood and it doesn't want to leave, much less be rent controlled.