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TPG Exploring a Sale of Mobile-Home Firm Strive Communities

  • Potential sale of business could fetch at least $750 million
  • Properties have been a bright spot in real estate market
Vast trailer park, mobile home court on sunny summer morning.
Photographer: JamesBrey/E+

Private equity firm TPG is exploring the sale of Strive Communities, an operator of mobile-home parks that could fetch $750 million or more, according to people with knowledge of the matter.

The firm, working with an adviser, is set to begin soliciting interest from potential suitors in coming weeks, said the people, who requested anonymity because the talks are private. It’s possible TPG will decide to keep the business, one of the people said.