Carlyle Group buys sprawling Sunnyvale mobile-home park
A month after buying its first Bay Area mobile-home park, the Carlyle Group is coming back for seconds in a big way.
The Washington, D.C.-based private equity juggernaut just snapped up Sunnyvale’s approximately 85-acre Plaza Del Rey in a deal that highlights growing institutional appetite for the once-sleepy, largely mom-and-pop dominated asset class.
Carlyle paid in the neighborhood of $180 million for the sprawling project, located south of Tasman Drive and west of Lawrence Expressway, according to a source with knowledge of the deal. The transaction closed last week.