Mermaid Manor Mobile Home Park in Bradenton, Florida has been sold for $2.1 million by Harold E. Crye to an undisclosed buyer. Crye’s company, Mermaid Manor LLC, paid $1.2 million for the manufactured home community (MHC) in March 2013 following a foreclosure involving prior owner CPM Properties LLC of Tampa, when it was generating $9,000 monthly in rents. It currently brings in $30,000 monthly.

Bruce Ginsberg of Remax Platinum Realty, in Sarasota, representing the buyer and seller, said the increase in price was due to an increase in rents. The 79 homesite MHC was financed with a $900,000 loan from Bay Cities Bank.

Also this month, according to what heraldtribune  tells MHProNews, Friendship Village of Sarasota, Fla. has been acquired for $4.63 million by PFC Park Holdings of Nevada. The 130-unit complex was financed by Union Capital Investments. In July a seven acre MHC in Englewood was purchased for $4.1 million by CAE-FL 101 LLC of Scottsdale, Arizona. Klaus J. Allseits had owned the community for 30 years.  The buying and selling of MHCs goes on, as the demand from new investors and from those already in the business continues to increase. ##

(Image credit: google -Mermaid Manor in Bradenton, Fla.)

(Submitted by Matthew J. Silver to Daily Business News-MHProNews.)