BEAUMONT, TX—Capstone Manufactured Housing has closed the sale of Parkway Village in Nederland, Texas. The property is a 218-site manufactured housing community located within the Beaumont, Texas MSA. The community attracted a large buyer pool due to the asset performing at 99% occupancy, utilities serviced by the municipality, 100% resident-owned homes, and a strong location with frontage to U.S. Route 287.
Capstone’s Ian Hilpl, Kevan Enger, Brian Hummell, and Hunter LaRocca represented the seller in the transaction. Through Capstone’s national marketing process, the brokerage team was able to generate 21 competitive offers for the seller. The buyer who was awarded the deal had recently acquired a sizeable portfolio in Texas and is actively looking to grow their footprint. The buyer performed per the agreed upon PSA and closed on the transaction with all cash.
“Parkway Village is the premier Manufactured Housing Community in the Beaumont MSA. The Community fit the acquisition criteria for a large number of groups, which enabled our team to provide a strong and diverse buyer pool for the seller to choose from,” said lead broker and senior advisor, Ian Hilpl. “Through our competitive process, we were able to generate 21 offers with multiple above our pricing guidance. With our client having ownership for nearly 30 years, our team was pleased to deliver strong results and a fluid process for the generational seller.”