We assist owners with their exit strategies at no cost to you and help residents purchase and successfully manage their own communities.
If you’re interested in selling your park, please don’t hesitate to reach out to us to learn more. You’ll walk away with a great price and leave behind a legacy of locally-controlled, permanently-affordable, and high-quality housing.
Why resident ownership?
✔️ Residents are motivated buyers looking for reasons to close, not reasons to back out of a transaction. They are no pursuing multiple deals simultaneously; they are only interested in one property: the place they call home.
✔️ Resident ownership leaves a legacy of permanently affordable, locally owned housing.
✔️ With CDI’s support, residents can access dedicated financing and pay fair market value. This financing is made to the cooperative business, without regard for resident households’ incomes or credit scores.
Why work with Cooperative Development Institute (CDI)?
✔️CDI has 15 years of experience converting manufactured housing communities to resident ownership. Across the five New England states we serve, we have converted 59 communities, totaling over 5,800 homes and more than $267 million in financing. These resident transactions reflect a wide range of sizes and prices, from the 13-home Deer Ridge Cooperative in Augusta, Maine to the 430-home Halifax Estates in Halifax Massachusetts.
✔️ With CDI’s support, a resident purchase will feel like any other commercial transaction. We will act as the professional intermediary between a seller and their residents, and will ensure the purchase is accomplished in a commercially reason time frame (approximately 100-120 days from contract).
✔️ In a resident purchase, a seller doesn’t have to deal with the costs of brokers or marketing. CDI is paid by the resident cooperative, not by the seller.
✔️CDI has a network of lenders at the national state and local levels that we can quickly bring to the table to finance a transaction.
✔️ CDI sticks with our clients for at least 10 years following purchase. For a seller, this ensures their community has professional, independent, ongoing technical assistance, so residents can transition smoothly into owning and operating their manufactured housing community.
Does my park fit the model?
✔️ Resident-owned communities are most successful with a minimum of 25 lots, at least 75% of which must be owner-occupied.
✔️ It is understood that there may be infrastructure issues, parcel boundary concerns, large receivables, etc. These can be discussed during contract negotiation.
Contact the NEROC Acquisition Team
Pat Schwebler
Co-director of NEROC
Email: pschwebler@cdi.coop
Pat’s background is in real estate, finance, nonprofits, and business management. Working as a realtor in an urban setting, Pat developed an educational first-time homebuyer program and helped over 50 new Americans secure their first home. She served as co-chair of a nonprofit that provided emergency shelter to victims of domestic violence. Before joining CDI she was executive director of a senior center and worked to improve community conditions for the elderly. She helped create a free medical equipment loan closet in Kennebunk, Maine and served on Kennebunk’s Committee on Aging. Pat obtained her B.A. in Communications and graduate certificate in grant writing from the University of Southern Maine.
Nora Gosselin
Market Development Acquisitions Specialist
Email: ngosselin@cdi.coop
Nora Gosselin joined CDI in 2019 as a Cooperative Housing Specialist, and moved into the Market Development and Acquisitions role in 2021. Prior to joining CDI, Nora lived in a co-op for four years. During her time there, she worked as the treasurer, housing coordinator, and as an intern with the North American Students of Cooperation (NASCO). Nora has a BA in Urban Studies, and wrote a thesis focused on the regulatory and cultural barriers that face housing cooperatives in small cities. Nora has also worked as a waitress, barista, bookstore clerk, volunteer radio DJ, and coordinator/counselor for a music education program. She lives in Providence, RI.
