Posts Tagged ‘private investor’

Marcus & Millichap Arrange Sale of Florida MH Communities

March 15th, 2016 Comments off

marcus_and_millichap_arr_sale_of_countryaire_and_kentwood_mhcs__their_creditCommercial real estate investment services firm Marcus & Millichap informs MHProNews that Dan Mulkey of M&M’s Tampa office represented the seller and the buyer in the sale of two adjoining manufactured home communities (MHC) in Tampa, Fla.

The buyer, a private investor who owns several MHCs in the area, paid $2,575,000 for the two all-age communities on the east side of Tampa. Countryaire Mobile Home Park, with 60 home sites, and the 27-home site Kentwood Mobile Home Park sit on 13.79 acres.

Noting the two communities are comprised of newer as well as older single and multi-section homes, Mulkey said, “These two parks have been exceptionally well maintained and provide an excellent addition to the buyer’s existing portfolio of communities.” ##

Manufactured Home Community Sold to Investor

July 4th, 2013 1 comment

Originally developed in 1953, the 256-unit Pacific Mobile Home Park in Huntington Beach, Calif. was sold to a private investor in Orange County for just under $50 million. Set on 18.19 acres, the single and multi-section community of manufactured homes includes a pool and a clubhouse. Greg Sullivan of WD Land, representing the seller, says, “Residents are within walking distance to a world renowned beach, an awesome downtown area with great restaurants and night life and the additional bonus of excellent schools.” As MHProNews learned from, the community was a long-time family-owned property that decided it was a good time to sell.

(Photo credit: santeepatch–manufactured housing community, Santee, Calif.)

Regulator May Act Against Eminent Domain Plan

August 14th, 2012 Comments off

fhfa-logo-headerReuters tells MHProNews that the Federal Housing Finance Agency (FHFA) raised concerns about a private investor group’s controversial aim to seize and restructure poor-performing mortgages. The federal housing regulator of the GSEs said it is concerned about the program’s constitutionality. “FHFA has significant concerns with programs that could undermine and have a chilling effect on the extension of credit to borrowers seeking to become homeowners and on investors that support the housing market,” the agency said in a statement. Edward DeMarco, the acting director of the FHFA, has objected to principal reductions on mortgages. DeMarco told reporters “the anticipated benefits do not outweigh the costs and risks.” Concerns about costs to taxpayers was also expressed. Mortgage Resolution Partners, a San Francisco-based group backed by some prominent West Coast financiers, is promoting the concept. Eminent domain traditionally has been used by local governments to condemn buildings and properties for public works projects. A related column in Industry Voices can be found here. ##

(Graphic Credit: FHFA Logo)