Marcus & Millichap has arranged the sale of Vista Estates, a manufactured housing community in Storm Lake, Iowa, for $5.5 million, according to ReBusiness Online. Public records show the new owner is an entity related to The BoaVida Group.
Located at 811 Vestal St., the 127-site property is within 2 miles from several retail and dining options—both in stand-alone buildings and within the Storm Lake Plaza—as well as several parks and golf courses. Additionally, the community is close to Buena Vista University and the Buena Vista Regional Medical Center. Completed in 1971, Vista Estates includes 112 homes that are tenant owned.
First Vice President Andrean Angelov, Senior Managing Director Ryan Engle and Associate Brad Kreppel from Marcus & Millichap worked on behalf of the buyer. The Vista Estates acquisition comes less than a week after The BoaVida Group paid $1.4 million for a manufactured housing community in Oklahoma.