HARRI5 Brokers Orlando-Area MHC Deal
Tara Village in Lake County changed hands between two private entities.
A private entity has sold Tara Village, a 130-homesite manufactured housing community in Leesburg, Fla., for $5 million, according to Lake County public records. The same source shows that the private buyer assumed a past loan and refinanced it, resulting in a $3.7 million Fannie Mae loan. HARRI5 brokered the deal.
Tara Village is a 55-plus, pet-friendly community at 10630 County Road 44, within the Lake County submarket of Orlando. Built in 1975, the property spans 25 acres and is close to multiple retail and dining options as well as Hines Creek River. Leesburg International Airport is 8 miles away and downtown Orlando is within 49 miles of the property.
Amenities at the manufactured housing community include laundry facilities, complimentary Wi-Fi, boat and RV storage, and a swimming pool. Additionally, Tara Village is close to nearby boat ramps and docks for fishing enthusiasts.
MHC investors continue to flock to the Southeast
The Southeast has remained a preferred region for MHC investors. Several notable deals closed in the area this year. In June, GMF Group acquired its 50th property: Plaza Estates, a 103-homesite community in Bradenton, Fla. Earlier this year, the same company secured a $65 million CMBS refinancing package for a 17-asset MHC portfolio spread across Florida. Also in January, Marcus & Millichap brokered the sale of 12 manufactured housing communities in the Southeast.
