Newmark has brokered the sale of Bayhead Mobile Home Park, a 243-site manufactured housing community in Tallahassee, Fla. According to public records, the seller was an entity affiliated with Parkstone Capital Partners.
The property last traded in April of 2015 for $2.8 million, Leon County records show. Months later, the current seller refinanced the property with a $1.8 million mortgage originated by Centennial Bank. At the time of the current sale, the community was 70.3 percent occupied.
Located on more than 33 tree-filled acres at 356 Bayhead Drive, the community features 185 manufactured home and 58 RV sites. The property is within walking distance of several shopping options. Downtown Tallahassee is some 8 miles southeast.
The pet-friendly community features a heated swimming pool, a clubhouse, tennis and basketball courts and a library. Bayhead Mobile Home Park also organizes social events such as book clubs, as well as dance and crafts clubs.
Recently, another manufactured housing community with more than 200 sites has traded. Castle Park Investments purchased the 233-site Royal Village in Toledo, Ohio.