The Broadway Company Expands Manufactured Housing Portfolio with 116-Lot Alabama Community Purchase

The Broadway Company, a Boston-based real estate investment firm focused on multi-family and manufactured housing, has acquired Heathermoor Estates, a 116-lot manufactured housing community in Moody, Alabama, in partnership with Parkstone Communities. The purchase, announced on October 13, 2026, marks another step in The Broadway Company's targeted expansion of manufactured housing in Alabama and other core markets nationally. The full announcement, including downloadable images and bios, is available click here.

Heathermoor Estates is located about 25 miles east of downtown Birmingham, along the Interstate 20 corridor in St. Clair County. This positioning places the community within commuting distance of Alabama's largest metropolitan area, offering residents access to employment, healthcare, and education while living in a suburban setting. The acquisition reflects growing institutional interest in manufactured housing as a stable, income-producing asset class, particularly in regions with affordable housing shortages.

The Broadway Company, founded in 2011, is a fully integrated real estate investment company with communities professionally managed by Moon Street, its in-house property management arm. The firm has completed over 90 investments and brings expertise in corporate governance, asset management, acquisitions, accounting, and leasing. 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, the company has a track record of successful real estate ventures. More information is available at www.tbcre.com.

Parkstone Communities, a manufactured housing owner-operator based in Richmond, Virginia, and founded by Sam Turner in 2015, has grown to a portfolio of more than 30 manufactured housing communities across the U.S. The company provides institutional-level property and asset management through its home-office team and field operators. Its partnership with The Broadway Company on this acquisition leverages both firms' expertise in the sector. For details, visit https://parkstonecommunities.com/.

The purchase of Heathermoor Estates is significant for several reasons. First, it underscores the attractiveness of manufactured housing as an investment class, especially in the Southeast, where demand for affordable housing continues to rise. Manufactured housing communities often provide lower-cost homeownership options compared to traditional site-built homes, serving a critical segment of the housing market. Second, the involvement of experienced operators like The Broadway Company and Parkstone Communities suggests a trend toward professional management and capital infusion in the sector, which can lead to improved community amenities and services. Third, the acquisition may stimulate local economic activity in Moody and St. Clair County through property improvements, job creation, and increased tax revenues.

For readers and industry observers, this deal highlights the ongoing consolidation and institutionalization of manufactured housing, a niche that has historically been fragmented among small, private owners. As larger players enter the space, they bring economies of scale and operational efficiencies that can benefit residents and investors alike. Moreover, the focus on the Interstate 20 corridor indicates confidence in Alabama's economic trajectory and its ability to attract and retain residents. The Broadway Company's continued pursuit of similar assets in Alabama and other core markets suggests further opportunities for growth and investment in the state.