Tampa-Area Manufactured Housing Community Changes Ownership

1 min read

Colliers brokered the $7 million sale of the Isle of Palms Mobile Home Community in St. Petersburg, Fla.

Isle of Palms Mobile Home Community. Image via Google Street View

A New York-based investor spent $7.4 million to acquire Isle of Palms Mobile Home Community in St. Petersburg, Fla., public records show. The new owner financed the purchase through a $3.7 million loan secured by the Florida-based seller, set to mature in 2026.

The seller had owned and operated the 161-site property since 1967. A team from Colliers’ Manufactured Housing & RV Group brokered the transaction.  

Located at 7400 46th Ave. N., the over 55 community is within walking distance of public transit, less than 6 miles from Interstate 275 and some 23 miles from downtown Tampa, Fla. Additionally, the property is close to several dining and retail choices, as well as a number of health-care facilities. Common-area amenities include a shuffleboard court, a billiard room, a library and laundry facilities.

Florida has attracted more and more interest from manufactured housing community investors. For example, Capital Square 1031 recently paid $61 million for Foxwood Village in Lakeland, Fla. The over 55 lifestyle property was almost fully occupied at the time of sale.    

You May Also Like

The latest multifamily news, delivered every morning.

Latest Stories

Like what you're reading? Subscribe for free.