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California Firms Pay $39M For West Palm Beach Trailer Park
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Crystal View Capital Sells Louisville Mobile Home Community For $15M
The new owner assumed the outstanding balance of a $4.3 million Fannie Mae loan. Mar032021
Image via Google Street View
Crystal View Capital has sold the Southland Mobile Home Community, a 311-site manufactured housing community in Louisville, Ky., for $15 million. The seller previously acquired the property in 2019 for $7.1 million. The transaction was part of the company’s second private equity real estate fund, Fund II, launched in 2017, and included eight other manufactured housing communities and 14 self-storage facilities.
Public records show an entity connected to The BoaVida Group acquired Southland Mobile Home Community. Additionally, the new owner assumed a $4.3 million Fannie Mae loan that Berkadia originated for the seller in 2020.
Marcus & Millichap Closes $6M Manufactured Housing Sale
An entity connected to The BoaVida Group acquired the 127-site Vista Estates in Storm Lake, Iowa. Jan212021
Image via Google Street View
Marcus & Millichap has arranged the sale of Vista Estates, a manufactured housing community in Storm Lake, Iowa, for $5.5 million, according to
ReBusiness Online. Public records show the new owner is an entity related to The BoaVida Group.
Located at 811 Vestal St., the 127-site property is within 2 miles from several retail and dining options both in stand-alone buildings and within the Storm Lake Plaza as well as several parks and golf courses. Additionally, the community is close to Buena Vista University and the Buena Vista Regional Medical Center. Completed in 1971, Vista Estates includes 112 homes that are tenant owned.
Pair of Oklahoma Manufactured Housing Communities Changes Hands
In separate transactions, two California-based investors acquired Big Bass Park in Checotah and Rolling Acres in Oklahoma City. Jan182021
Image via Google Maps
With the affordable housing crisis hitting the West coast metros the hardest and big tech companies committing to fund new developments, Californian investors are focusing on second- and third-tier markets for growth opportunities.
Big Bass Park, a manufactured housing community in Checotah, Okla., has traded for $1.4 million according to
The Oklahoman. According to public records, an entity connected to Sacramento, Calif.-based The BoaVida Group purchased the 105-site property and received an almost $1 million acquisition loan from Five Star Bank. The seller was Superior Management Co., which comprises three sisters who inherited the property from their parents.
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