Sales · Underwriting · Advisory
Lighting the way in alternative real estate.
Dickens Capital helps owners and buyers of manufactured housing communities, RV parks, campgrounds, glamping, marinas and membership communities price, finance and close deals with confidence.
The market right now
From our weekly research · October 2026
For owners
What buyers are asking about your property right now
Higher rates have changed how buyers and lenders look at every park. Here is what comes up most, and how we help you get ahead of it.
“What is my park actually worth today?”
Prices set from mid-2026 sales assume cheaper loans than buyers can get now. An asking price that ignores that tends to sit, then get cut.
How we help: a broker opinion of value built from your operating statements and today’s financing costs, so your price holds up when the buyer’s lender runs the numbers.
“Will a buyer be able to get a loan?”
On many RV parks, loan payments now cost more than the property yields. Fewer buyers can close, and deals fall apart late.
How we help: we match your property to the buyers and loan programs that fit it, from agency debt for MH communities to SBA and local banks for RV parks, and package the financials lenders ask for up front.
“Where am I leaving money on the table?”
At older parks without submetering, utilities can eat 30–35% of revenue against a typical 15%. Buyers spot it, and they price it in.
How we help: a pre-sale review of utilities, insurance, expenses and records, so buyers pay for your income instead of discounting for risk.
“Should I sell, refinance or wait?”
Loans coming due now refinance into higher rates, and lenders have money for debt but buyers are short on equity.
How we help: a side-by-side look at selling now, refinancing and holding, with the numbers behind each, so the decision is yours and informed.
For buyers and investors
Underwriting that holds up at today’s rates
The best deals in this market are still out there. Finding them takes careful numbers and diligence that looks past the offering memo.
“Does this deal work with today’s debt?”
Many listings were priced when the 10-year Treasury was half a point lower. Last summer’s math won’t close this fall.
How we help: full underwriting at current rates with a stressed exit, so you know where the deal still earns more than the debt costs, and what to offer.
“Is the revenue going to hold?”
High gas prices have cut into short trips, while monthly stays and glamping keep growing. A single revenue line hides which way a park is heading.
How we help: we split nightly, seasonal and long-term income and tie every figure to the rent roll and T-12, so you buy the park as it really runs.
“What could surprise me after closing?”
Today’s low insurance premiums may not last. Private water systems, storm deductibles and power capacity for expansion can all change the math.
How we help: diligence built for parks: five years of loss runs, insurance stress-tested, utility capacity confirmed in writing before you commit.
“Are the growth assumptions realistic?”
National rent-growth figures don’t hold everywhere. Slowing migration and new rental supply are already pressuring parts of Texas and Florida.
How we help: rent growth and occupancy assumptions set market by market, not borrowed from a national average.
What we do
Three services, one standard of care
Sales
Representing owners through a careful exit, and working with buyers to find the right fit. Pricing, marketing, buyer screening and a disciplined process to closing.
Underwriting
Hands-on analysis before the wire goes out: rent rolls, occupancy, expenses, deferred maintenance, debt and returns, and broker opinions of value.
Advisory
Helping owners reposition, expand, refinance or exit, and helping buyers evaluate a deal before they commit.
Who you’ll work with
Two partners, nationwide
James Dickens
Principal Partner · Underwriting
After nearly two decades in commercial helicopter operations, James moved into commercial real estate, underwriting at Marcus & Millichap and leading private equity acquisitions before founding Dickens Capital.
jdickens@dickenscapital.com
+1 337-256-1098
Kathy Dupuy
Principal Partner · Sales & Acquisitions
Kathy brings a background in recruiting, sales and acquisitions to her work as a licensed real estate broker. She works with buyers and sellers nationwide, with a focus on RV parks and outdoor hospitality.
kdupuy@dickenscapital.com
+1 337-380-3522
Buying or selling
Let’s talk about your property
Tell us a little about the property or the deal you’re considering, and one of us will get back to you.
James Dickens · jdickens@dickenscapital.com · +1 337-256-1098
Kathy Dupuy · kdupuy@dickenscapital.com · +1 337-380-3522