CBRE Brokers Priciest MHC Deal in Colorado History
Denver Cascade includes 382 homesites.
CBRE has facilitated the sale of a 382-homesite manufactured housing community in north Denver. The $62 million deal marks the largest non-coastal manufactured housing sale in the country this year, and the priciest MHC deal in Colorado’s history, according to the brokerage company.
CBRE worked on behalf of the seller, a private individual. The name of the buyer was not disclosed.
Built in 1973 on 48 acres, Denver Cascade is an all-age, pet-friendly mobile home community located at 9650 Federal Blvd. in Federal Heights, Colo. Amenities include a fitness center, a swimming pools, a clubhouse, a playground area and recreational facilities, as well as onsite staff and a sales office, planned social activities and boat or RV storage.
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Denver Cascade is close to multiple retail and dining options, as well as to interstates 35 and 270, allowing easy connectivity in the area. Downtown Denver is 11 miles away, while the Denver International Airport is within 24 miles of the community.
Senior Vice Presidents Norm Sangalang, Erik Edwards and Jon Shay, together with Associate Jez Lawson and Senior Associate Myles McGinnis, all with CBRE’s Manufactured Housing & RV Resorts team worked on behalf of the seller.
MHC acquisitions in Western U.S.
Over the past few months, investment activity in the manufactured housing space intensified in the western region. Pacific Partners acquired a two-property portfolio in Vista, Calif., in November. The $20.4 million deal included a 150-homesite mobile home park and a trailer park that changed hands for the first time ever.
In October, HARRI5 brokered a $37.8 million acquisition in Bullhead City, Ariz. Sun Communities sold a 311-homesite manufactured housing community to Keith Management. A month earlier, Northmarq facilitated the sale of three properties in Washington and Oregon for a combined $14.3 million.
