Northmarq Brokers $44M MHC Sale in Arizona
The Phoenix-area community represented a value-add opportunity for the buyer.
Country Club Village. Image courtesy of NorthMarq
NorthMarq Manufactured Housing Group has facilitated the sale of Country Club Village, a 493-site manufactured housing community in Mesa, Ariz. Havenpark Communities, formerly known as Havenpark Capital Partners, purchased the asset for $44 million or $89,249 per site.
Northmarq worked on behalf of the seller. According to Maricopa County records, Kort & Scott Financial Group—an Anaheim, Calif., owner and operator of manufactured homes communities—owned the property through two LLCs.
Country Club Village was built in 1980 at 2060 N. Center St. on a 67.3-acre lot, close to Red Mountain Freeway and State Route 87. The community is situated in the North Center neighborhood, 3 miles from downtown Mesa, 9 miles from University of Arizona, 10 miles from Phoenix Sky Harbor International Airport and within 16 miles of downtown Phoenix. Several retail, dining and entertainment options are located nearby.
A value-add opportunity
The new owner intends to upgrade the community and bring in new home inventory, according to a prepared statement from NorthMarq Associate Vice Presidents Jared Bosch. At the time of the sale, Country Club Village was 73 percent occupied. Amenities at Country Club Village include a recreation center, two swimming pools, picnic areas and a basketball court.
Bosch and Vice President Chris Michl, Vice President Don Vedeen from NorthMarq’s Phoenix office, together with Managing Director Jeff Benson and Senior Vice President Samuel Neumark of the company’s Los Angeles office, represented the seller.
The brokerage company is also active in the metro’s multifamily market. Most recently, another team of brokers assisted Tides Equities in the acquisition of a 308-unit community in Northeast Phoenix.
