Capstone Facilitates Sale of 2 Houston-Area MHCs

Both assets have been operated by the same local owners for over 35 years.

Chase Village

Chase Village. Image courtesy of Capstone

Capstone Manufactured Housing has facilitated the sale of two manufactured housing communities encompassing a total of 322 sites in the Houston metro. A private local investor who owned both properties for over 35 years sold the assets.

Anderson Oaks is a 177-site manufactured housing community located at 600 E. Anderson Road. Built in 1992, the property is located across Sam Houston Tollway, 11 miles from University of Houston, 12 miles from downtown Houston and 14 miles from Memorial Hermann Southwest Hospital. Anderson Oaks is close to retail spaces, such as Kroger and Lowe’s, and near large employers such as United Airlines—with its headquarters 12 miles away—and NASA’s Johnson Space Center, located within 24 miles of the property.

READ ALSO: What the New Housing Supply Action Plan Means for Manufactured Housing

The other asset that changed hands is Chase Village, a 145-site community located at 2916 McKinney Road in Baytown, Texas. The property is also close to local dining venues, retail, as well as entertainment options such as Baytown Historical Museum, Baytown shopping center, Baytown Nature Center and Kemah Boardwalk. The property is right across from Highway 146 and is one of the residents’ first affordable housing choices in the Baytown submarket. Chase Village was 97 percent occupied at the time of the sale, according to Capstone.

Directors Ian Hilpl and Kevan Enger, along with Senior Advisor Brian Hummell and Investment Sales Advisor Hunter LaRocca, all within Capstone’s manufactured housing team, represented the seller and procured the buyer in the transaction.

Earlier this year, another Capstone team facilitated the sale of Hidden Valley Estates, an 84-site manufactured housing community in Bozeman, Mont.

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