Capstone Closes $24 Million Sale of 327-Site MHC in the Birmingham MSA

BIRMINGHAM, AL—Capstone Manufactured Housing has closed the $24 million sale of Peachtree Crossings: a 327-site manufactured housing community in Gardendale, Alabama. The 88-acre tree-lined community is one of the nicest in the area, boasting a swimming pool, clubhouse, playground, gazebo, and an overall country club atmosphere.

Capstone’s Kevan Enger, Ian Hilpl, Brian Hummell, and Hunter LaRocca sold the property on behalf of LUAB Inc, who was the original owner and developer of the property. The buyer is OZ Impact Management LLC.

“The Seller developed the community in the 1990’s after visiting other parks across the country for ideas.  The finished product was truly a ‘neighborhood’ and is one of the nicest manufactured housing communities in the Southeast or anywhere,” said Enger.

Peachtree Crossings is situated off US-31 in an area surrounded by nice single-family homes. The community was 100% occupied at the time of closing.

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