The Broadway Company, a multi-family and manufactured housing investment firm, in partnership with Parkstone Communities, has acquired Heathermoor Estates, a 116-lot manufactured housing community located in Moody, Alabama. The transaction, announced on October 13, 2026, expands The Broadway Company's footprint in the manufactured housing sector and aligns with its strategy of targeted growth in Alabama and other core markets nationally.
Heathermoor Estates is situated approximately 25 miles east of downtown Birmingham, along the Interstate 20 corridor in St. Clair County. The community benefits from its proximity to a major metropolitan area and transportation route, which may appeal to residents seeking affordable housing options outside the urban core. The acquisition highlights the ongoing interest in manufactured housing as a resilient and essential asset class, particularly in regions experiencing population growth and demand for cost-effective living solutions.
The Broadway Company, founded in 2011, is a fully integrated real estate investment company with expertise in corporate governance, asset management, acquisitions, accounting, and leasing. It has completed over 90 investments and manages its communities through Moon Street, its in-house property management arm. The company was co-founded by Tana E. Weissman and Jason S. Weissman, who also founded Boston Realty Advisors, the largest independently owned commercial real estate brokerage in New England. For more information, visit www.tbcre.com.
Parkstone Communities, based in Richmond, Virginia, is a manufactured housing owner-operator founded by Sam Turner in 2015. Since then, Parkstone has grown to a portfolio of more than 30 manufactured housing communities across the U.S., supported by a home-office team and field operators providing institutional-level property and asset management. The partnership with The Broadway Company leverages both firms' expertise in the sector. Additional details about Parkstone can be found at https://parkstonecommunities.com.
The acquisition of Heathermoor Estates may have implications for the local housing market in St. Clair County, where manufactured housing often provides an affordable alternative to traditional site-built homes. As institutional investors continue to show interest in the asset class, residents may see improvements in property management and community amenities. For The Broadway Company, this purchase represents another step in its targeted expansion strategy, reinforcing its commitment to manufactured housing as a core investment focus. The full announcement, including downloadable images and bios, can be viewed click here.
Industry observers note that manufactured housing communities offer stable cash flows and low vacancy rates, making them attractive to investors seeking diversification. The collaboration between The Broadway Company and Parkstone Communities combines acquisition capabilities with operational expertise, potentially setting the stage for further joint ventures. As housing affordability remains a concern nationwide, investments in this sector could help address demand while delivering returns to stakeholders.
