The Broadway Company, a fully integrated real estate investment firm focused on multi-family and manufactured housing, announced the acquisition of Heathermoor Estates, a 116-lot manufactured housing community in Moody, Alabama. The purchase was made in partnership with Parkstone Communities, a Richmond-based manufactured housing owner-operator. The deal underscores the growing appeal of manufactured housing as a stable, income-producing asset class, particularly in markets with limited affordable housing supply.
Heathermoor Estates is located approximately 25 miles east of downtown Birmingham, along the Interstate 20 corridor in St. Clair County. The community benefits from proximity to one of Alabama's largest employment centers, offering residents convenient access to jobs, healthcare, and retail. For The Broadway Company, the acquisition represents a targeted expansion of its manufactured housing portfolio in Alabama and other core markets nationally. The company, founded in 2011, has completed over 90 investments and manages its communities through Moon Street, its in-house property management arm. Co-founded by Tana E. Weissman and Jason S. Weissman, who also leads Boston Realty Advisors, The Broadway Company brings significant experience in acquisitions, asset management, and leasing to the venture.
Parkstone Communities, founded by Sam Turner in 2015, has grown to more than 30 manufactured housing communities across the United States. The firm provides institutional-level property and asset management through a dedicated home-office team and field operators. The partnership with The Broadway Company leverages Parkstone's operational expertise and The Broadway Company's investment acumen, positioning Heathermoor Estates for long-term stability and potential value enhancement.
The acquisition matters because it reflects broader trends in the real estate market. Manufactured housing communities offer a lower-cost housing option at a time when affordability challenges persist across the country. Institutional investors are increasingly drawn to the sector due to its resilient demand, low turnover, and potential for steady cash flow. By acquiring Heathermoor Estates, The Broadway Company and Parkstone Communities are betting on the continued strength of the Birmingham suburbs and the manufactured housing model. The deal also signals confidence in Alabama's economy, which has attracted major industrial and automotive investments in recent years. For residents, the transition to new ownership may bring improved management and community amenities, though it also raises questions about rent increases and affordability. As the manufactured housing sector consolidates, deals like this one will shape the availability and quality of affordable housing in markets like Moody. The full announcement, including downloadable images and bios, can be viewed click here. For more information about The Broadway Company, visit www.tbcre.com, and for details on Parkstone Communities, see https://parkstonecommunities.com/.
The transaction highlights the ongoing institutionalization of manufactured housing, a sector once dominated by small, local operators. As larger players enter the space, they bring professional management and capital improvements, but also the potential for higher lot rents. How this balance plays out in Moody will be closely watched by residents, investors, and local officials alike. The Broadway Company's continued expansion in Alabama and other core markets suggests that manufactured housing will remain a key component of its investment strategy. With the backing of Parkstone Communities, Heathermoor Estates is poised to benefit from operational synergies and a long-term approach to community stewardship.
