The Broadway Company, a fully integrated real estate investment firm focused on multi-family and manufactured housing, has partnered with Parkstone Communities to acquire Heathermoor Estates, a 116-lot manufactured housing community in Moody, Alabama. The transaction, announced on October 13, 2026, places the company squarely in one of the nation's most active manufactured housing corridors and underscores the growing appeal of this asset class to institutional investors.
Heathermoor Estates is located approximately 25 miles east of downtown Birmingham, along the Interstate 20 corridor in St. Clair County. That positioning matters because it taps into a region experiencing steady population and employment growth, driven in part by logistics and manufacturing operations that benefit from interstate access. For residents, manufactured housing communities like Heathermoor often provide an affordable homeownership option at a time when soaring housing costs have pushed traditional single-family homes out of reach for many working families. The acquisition therefore not only expands The Broadway Company's footprint but also addresses a critical need for attainable housing in the Birmingham metro area.
The deal also highlights The Broadway Company's broader strategy. The firm, founded in 2011, has completed over 90 investments and continues to pursue targeted expansion of the manufactured housing asset class in Alabama and other core markets nationally. Its in-house property management arm, Moon Street, will professionally manage the community, ensuring consistent operations and resident services. The partnership with Parkstone Communities, a Richmond, Virginia-based owner-operator with more than 30 manufactured housing communities across the U.S., brings additional operational expertise and institutional-level asset management to the venture. Together, the two firms are positioned to enhance Heathermoor Estates while capitalizing on favorable supply-demand dynamics in the sector.
For the manufactured housing industry, this purchase is a signal that well-capitalized investors see long-term value in smaller, infill communities that serve stable, working-class populations. Unlike large-scale apartment developments, manufactured housing communities offer lower turnover and steady cash flows, making them attractive in uncertain economic climates. As The Broadway Company continues to execute its growth plans, its success at Heathermoor Estates could serve as a template for further acquisitions in the Southeast and beyond. Details of the full announcement, including downloadable images and bios, can be found click here. For more information about The Broadway Company, visit www.tbcre.com. Parkstone Communities' portfolio and approach are detailed at https://parkstonecommunities.com.
