Capstone Brokers $13M Sale of North Carolina MHC
- May 20, 2021
Taylor Property Group has sold the 298-site Taylors Creek Mobile Home Park in Fayetteville, N.C., according to public records. An entity connected to Vineyards Impact Funds paid $12.6 million for the property. The asset last changed hands in 2007 for $4 million.
The new owner also assumed the outstanding balance of a $5.9 million loan that the seller took out in 2012 from Wells Fargo Bank.
Located at 175 Redfish Drive, on 108 acres in a Qualified Opportunity Zone, the community is 2 miles from Fayetteville Regional Airport and less than 3 miles from Interstate 95. Completed in 1998, the property includes common-area amenities such as a swimming pool, a playground, a basketball court and on-site security. At the time of sale, the asset was 92 percent occupied.
Capstone Manufactured Housing’s Kevan Enger, Ian Hilpl, Brian Hummell and Hunter LaRocca brokered the transaction. The team recently closed the sale of West Edge Park, a 660-site community in Auburn, Ind.