Tuesday, September 20, 2016

5.2-Acre Manufactured Home Community in Lakeland, FL sold for $1.43 Million in Deal Brokered by Marcus & Millichap

Townsley Estates, Lakeland, FL

LAKELAND, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Townsley Estates, a 5.2-acre manufactured home community in Lakeland, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,425,000.

Dan Mulkey
Dan Mulkey, vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  The buyer, a limited liability company, was secured and represented by

Situated in Lakeland, Florida between Tampa and Orlando along Interstate 4, this small senior community offers its residents quiet living while placing them close to a major mall, hospitals, shopping and transportation. The manager’s home is a two-bedroom, stick build dwelling with a pool. 

Because of its close proximity to Tampa, Orlando and the crossroads of two of Florida’s most heavily traveled highways, Interstate 4 and U.S. Highway 27, Lakeland has become a high growth area boasting heavy commerce and housing development.

“After purchasing the community in 2008 the seller has done a very nice job of upgrading and filling the park,” says Mulkey. “As a Canadian citizen he intends to reinvest his sale proceeds into Canadian real estate.”

“The buyer, a California resident, is venturing into Florida real estate for the first time with intentions of investing in more manufactured housing in the immediate future,” concluded Mulkey.

For a complete copy of the company’s news release, please contact:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700

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