SARASOTA, FL—Capstone Manufactured Housing announces the $39.75 million sale of a 222-site manufactured housing portfolio in Sarasota, Florida.
The portfolio is comprised of two mobile home parks: Buckingham Club MHC and Villager Resort. The assets are both located within 1.3 miles of the Sarasota Bay and had a 97% average occupancy at the time of closing.
Capstone’s Kevan Enger facilitated the transaction between the buyer and seller. He commented, “We had a very active marketing process in which we were able to identify the best buyer for the properties.”
The buyer is going to continue to run the two assets as they are and is excited about the growth in the Sarasota market.