Philips International Buys Tampa-Area MHC
Berkadia Commercial Mortgage provided acquisition financing for the 96-homesite community.
Philips International has purchased Alafia Riverfront, a 96-homesite manufactured housing community in Riverview, Fla. The property changed hands for $7.4 million, according to Hillsborough County public records, sold by a private individual. HARRI5 brokered the deal.
The buyer secured a $5.2 million acquisition loan—which matures in 2035—from Berkadia Commercial Mortgage, the same source shows. The property last traded in 2015, for $3.8 million.
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Located at 8763 Barcin Circle, Alafia Riverfront is an all-age, pet-friendly manufactured home community built in 1985 that includes a shuffleboard court, parking spots, a swimming pool, a community center and on-site management. Situated along the Alafia River, the community is close to Interstate 75 and multiple retailers such as Walmart, Lowe’s and Dollar Tree. Alafia Riverfront is 11 miles from downtown Tampa, 18 miles from Tampa International Airport and within 35 miles of St. Petersburg, Fla.
Earlier this year, HARRI5 facilitated another mobile home community acquisition in Florida. In May, COARE Communities purchased St. Cloud Trailer Park, a 128-homesite asset in St. Cloud, Fla. The 55-plus mobile home and RV community changed hands for $5.3 million.