Belmont residents lose lawsuit over new manufactured housing owner’s rent increases

Belmont manufactured housing residents suffered a legal defeat this week when a New Hampshire judge tossed out their lawsuit accusing an out-of-state investor of dissuading them from buying their park with his false promises of stable rent increases.

In 2021, Bradley Pereira, manager of Oakshire Capital, purchased the 5.8-acre Great Brook Village, a manufactured housing community in Belmont for residents aged 55 and older.

Before the sale, the park’s previous owner notified residents of his intent to sell the property, allowing them to organize and purchase the community themselves.

Residents began pursuing a purchase of the park but state that Pereira discouraged their efforts, according to the lawsuit filed in 2025.

They argue that he made both verbal and written assurances that conditions would remain “status quo” or improve under his ownership, and that any rent increases would remain in line with the modest increases residents had historically seen.

Those assurances led residents to abandon their effort to purchase the park.

Once Pereira acquired the property, residents say rents rose far higher than promised, calling it “fraudulent inducement” in their lawsuit.

In an order issued Monday, Judge Mark Attorri of Belknap Superior Court dismissed the lawsuit, finding that “Pereira’s verbal and written representations are not materially false.”

“At no point does the plaintiff allege that Pereira said he would not increase rent or that he would only increase rent in line with the prior owners’ handling of rental increases,” Attori wrote. “Indeed, plaintiff knew Pereira considers the park as an investment opportunity. Thus the defendants’ increasing the rent after purchasing the park is not evidence of fraud because there is no material misrepresentation.”

The lawsuit was also dismissed with prejudice, which means the residents cannot refile this fraud claim again.

Bruce Buckingham, who’s been at Great Brook Village for over 21 years, said rent increases were very modest until Oakshire Capital bought the park, and he’s “not happy” about the ruling on the case.

He sticks to the accusations laid out in the suit: “We were lied to by the guy that bought the park,” he said

Buckingham said his rent was $648 when Oakshire Capital bought the property. Today, he pays over $1,000.

The rent hikes Great Brook Village residents are facing aren’t unique. They mirror the situations at manufactured housing parks across the country that have been bought by investment companies. Residents own their homes but only rent the land beneath them.

In Hopkinton, Deer Meadow and Meadows of Hopkinton, two manufactured housing parks recently purchased by a Michigan-based investment company, Sado Parks, are facing similar rent increases.

Meadows of Hopkinton residents are currently waiting on a consumer complaint they filed against the new owner with the New Hampshire Attorney General.

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