Crystal View Capital Sells Louisville Mobile Home Community For $15M

The new owner assumed the outstanding balance of a $4.3 million Fannie Mae loan.
Southland Mobile Home Community. Image via Google Street View

Crystal View Capital has sold the Southland Mobile Home Community, a 311-site manufactured housing community in Louisville, Ky., for $15 million. The seller previously acquired the property in 2019 for $7.1 million. The transaction was part of the company’s second private equity real estate fund, Fund II, launched in 2017, and included eight other manufactured housing communities and 14 self-storage facilities.

Public records show an entity connected to The BoaVida Group acquired Southland Mobile Home Community. Additionally, the new owner assumed a $4.3 million Fannie Mae loan that Berkadia originated for the seller in 2020.

Located at 401 Outer Loop, the property is some 4 miles from Interstate 65, a little 8 miles from Louisville International Airport and almost 13 miles from the metro’s downtown. Completed in 1967 on some 42 acres, the Southland Mobile Home Community also features a clubhouse.

At the end of January, The BoaVida Group spent $5.5 million to acquire Vista Estates, a manufactured housing community in Storm Lake, Iowa. A Marcus & Millichap team brokered the transaction on behalf of the new owner.