(Bloomberg)—Cove Communities, an owner of RV resorts, manufactured-housing locations and mobile-home parks, is in talks to acquire Blair Group, according to people with knowledge of the matter.
The companies are in discussions regarding a transaction that values Blair at $1 billion or more, said one of the people, all of whom requested anonymity because the deal isn’t yet public. The transaction hasn’t been finalized, and talks could still fall apart.
Representatives for Cove and Blair, both of which are closely held, didn’t respond to requests for comment.
Cove, led by Chairman David Napp and Chief Executive Officer Colleen Edwards, in June hired a former KeyBanc real estate banker as its chief investment officer. Founded in 2017, it owns 45 locations. Blair operates five locations in Florida, its website shows.
Firms including Blackstone Inc., TPG Inc. and Apollo Global Management Inc. have in recent years amassed holdings in mobile-home parks amid a broader bet on affordable housing in the U.S.
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