The Broadway Company, a multi-family and manufactured housing investment firm, has purchased Heathermoor Estates, a 116-lot manufactured housing community located in Moody, Alabama, in partnership with Parkstone Communities. The acquisition, announced on October 13, 2026, places the company in a strategically positioned asset roughly 25 miles east of downtown Birmingham along the Interstate 20 corridor in St. Clair County. While the financial terms of the transaction were not disclosed, the deal underscores the growing appeal of manufactured housing as a resilient and income-generating real estate class, particularly in markets experiencing population growth and limited affordable housing supply.
The purchase matters because it reflects a broader trend of institutional capital flowing into manufactured housing communities, which have historically been fragmented and owned by small operators. The Broadway Company’s decision to expand in Alabama, a state that has seen steady economic development and housing demand, suggests confidence in the long-term fundamentals of the asset class. Manufactured housing offers a lower-cost housing option for residents, and for investors, it can provide stable cash flows with lower turnover compared to traditional apartments. By targeting a community like Heathermoor Estates, the company is betting on the durability of demand in secondary and suburban markets that benefit from proximity to major employment centers like Birmingham.
The partnership with Parkstone Communities brings operational expertise to the venture. Parkstone, founded by Sam Turner in 2015, has grown to more than 30 manufactured housing communities across the U.S. and provides institutional-level property and asset management through its home-office team and field operators. That operational backbone is critical in manufactured housing, where day-to-day management, infrastructure maintenance, and resident relations drive value. For The Broadway Company, which was co-founded by Tana E. Weissman and Jason S. Weissman in 2011 and has completed over 90 investments, the alliance allows it to scale its manufactured housing strategy while leveraging Parkstone’s specialized knowledge.
The acquisition also highlights the continued professionalization of the manufactured housing sector. As more institutional players enter the space, residents may see improved amenities and management, while local municipalities gain a more stable tax base. However, the trend also raises questions about affordability and consolidation, as larger owners may have greater ability to adjust rents. For now, the Heathermoor Estates deal represents a targeted expansion by The Broadway Company, which has indicated it will continue pursuing similar opportunities in Alabama and other core markets nationally. The full announcement, including downloadable images and bios, can be viewed by visiting click here.
Investors and industry observers will watch whether this transaction spurs further activity in the region. The Broadway Company’s existing portfolio and its partnership model with Parkstone suggest a disciplined approach to growth. More information about the company is available at www.tbcre.com, and details about Parkstone Communities can be found at https://parkstonecommunities.com/. The announcement was distributed by Reportable, Inc.
