Alabama 5-Park Portfolio

Executive summary

BWE is pleased to present the Alabama 5-Park Portfolio — five communities totaling 570 homesites across the Birmingham, Huntsville, Tuscaloosa and Montgomery metros. At 96.5% occupancy with 88% tenant-owned homes and no vacant park-owned homes, the portfolio delivers reliable in-place cash flow with clear upside through rent growth and infill. All five communities are served by public municipal water and sewer — no wells, no septic, no lagoons. Trash is billed back to residents at three of the five, and Cahaba Estates and Paddington sub-meter and recapture water and sewer consumption.

The portfolio spans four distinct Alabama economies, with every community within a two-hour drive of Birmingham — a single management team can run all five while demand risk stays diversified across separate employment bases. In-place rents of $430 sit roughly 28% below achievable market rents of $549 and 65% below the average two-bedroom apartment in these markets. With 80% of the park-owned home fleet built in 2022 or later, 100% public utilities and paved roads, the portfolio represents an agency-financeable acquisition with an immediate and clear path to significant NOI growth.

Cahaba Estates: 103 Madison Drive, Trussville, AL 35173 | 158 lots | $448 average lot rent | 2023 POH median vintage
Elm Street: 2745 Elm Street, Tuscaloosa, AL 35401 | 75 lots | $372 average lot rent | 2022 POH median vintage
Paddington: 1720 Hurricane Road, Cottondale, AL 35453 | 124 lots | $389 average lot rent | 2022 POH median vintage
Payne Creek: 575 Payne Creek, Russellville, AL 35654 | 86 lots | $503 average lot rent | 2024 POH median vintage
Camelot Village: 101 Merlin Boulevard, Prattville, AL 36067 | 127 lots | $437 average lot rent | 2025 POH median vintage