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An investment group led by Dallas-based Invesco Real Estate bought Canyon Terrace, a manufactured-housing community site in Pierce County’s Summit area, for $13.65 million. County sales records show the transaction was recorded Oct. 15, 2026. The property at 9314 Canyon Road E. dates to the 1970s.
Who bought Canyon Terrace?
The buyer group combines three interests: an LLC affiliated with Invesco Real Estate, Invesco subsidiary Homestead Communities, and an EB-5 investment group. The recorded transaction identifies the parties through their ownership entities rather than describing a single individual buyer.
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Invesco Real Estate is based in Dallas. Homestead Communities was identified in the transaction report as an Invesco subsidiary. The EB-5 participation indicates that the acquisition also involved an investment vehicle using the federal immigrant-investor financing program, although the available transaction information does not state the amount of EB-5 capital or its specific terms.
Invesco representatives had not immediately responded to a request for comment when the sale was reported. No public statement in the available report describes the group’s operating plans, renovation budget, financing structure or target returns.
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How much did the property sell for?
Pierce County sales records put the Canyon Terrace price at $13.65 million. The county recorded the sale on Oct. 15, 2026. That figure is the recorded acquisition price; it is not a reported valuation, appraisal, construction budget or total project cost.
The records and report do not state the community’s number of homesites, occupancy rate, monthly rents, utility arrangements, operating income, capitalization rate or debt. Those figures should not be inferred from the purchase price.
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Where is Canyon Terrace?
Canyon Terrace is at 9314 Canyon Road E. in the Summit area of Pierce County, Washington. The community dates to the 1970s, placing it among the county’s older manufactured-housing properties. The address distinguishes it from Franklin Pierce Estates, another Pierce County community acquired by an Invesco-led group in a different submarket.
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The seller group included California entity Yorba Oil Co. Ltd. as the majority owner, along with Hammond Construction and JABKO Firs, Inc. The available report does not break out each seller’s ownership percentage beyond identifying Yorba Oil as the majority owner, and it does not describe why the owners decided to sell.
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How this compares with Invesco’s other 2026 Pierce County purchase
Canyon Terrace was reported as the second Invesco-led Pierce County manufactured-housing acquisition in two months. In September 2026, a similar buyer group reportedly purchased Franklin Pierce Estates at 11305 22nd Ave. E. in the Clover Creek area for just under $17 million.
| Community | Pierce County submarket | Address | Reported or recorded timing | Price | Buyer structure |
|---|---|---|---|---|---|
| Canyon Terrace | Summit | 9314 Canyon Road E. | Recorded Oct. 15, 2026 | $13.65 million | Invesco-affiliated LLC, Homestead Communities and an EB-5 investment group |
| Franklin Pierce Estates | Clover Creek | 11305 22nd Ave. E. | Reported September 2026 | Just under $17 million | Similar Invesco-led acquisition group |
The two prices cannot be used to calculate a per-home or per-site value because unit counts and other operating data were not provided. The communities are also in different Pierce County submarkets, so location, condition, tenure mix and infrastructure could materially affect pricing.
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What the purchase means for Pierce County’s manufactured-housing market
The back-to-back transactions show that an institutional buyer is assembling exposure to more than one manufactured-housing community in Pierce County. That pattern may indicate continued investor interest in existing communities, but the available records do not establish a countywide price trend or prove that other owners will receive similar offers.
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For residents, sellers and local contractors, the immediate fact is a change in ownership—not a disclosed redevelopment plan. No capital-improvement program, expansion, rent policy, demolition proposal or construction schedule has been announced in the transaction information. Any assessment of future site work therefore requires later filings or statements from the new owner.
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What remains unknown
- The number of manufactured-home sites and occupied homes at Canyon Terrace.
- Current rents, vacancy, operating income and expenses.
- Financing terms, including the share funded through EB-5 investment.
- Whether the buyer plans infrastructure upgrades, new homes, amenity work or other construction.
- How the Canyon Terrace price compares on a per-site basis with Franklin Pierce Estates.
Until those details are disclosed, the confirmed transaction is best understood as a $13.65 million ownership transfer of a 1970s-era manufactured-housing community in Summit, and as Invesco’s second reported Pierce County acquisition within two months.
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