Wednesday, October 11, 2017

Happy Home Communities Acquires a 201-Space Mobile Home Park Portfolio for $6.9 Million in Foley, AL

Ellie Davis
 Los Angeles, CA - Happy Home Communities (HHC), the mobile home park and RV park investment arm of Gelt Inc., a Los Angeles-based multifamily real estate investment and asset management firm, has acquired a 201-space mobile home park portfolio in Foley, AL, a city in Baldwin County. HHC acquired the two-property 90 percent occupied portfolio from a private seller for $6.9 million.

"This portfolio offered HHC the opportunity to own and manage two well-maintained communities that are close to local beaches, major tourist destinations and employment centers," said Ellie Davis, director of acquisitions and asset management for Happy Homes Communities.

"Additionally, Baldwin County is one of the fastest-growing regions in the nation. We see this growth as a factor for long-term appreciation and plan to add additional immediate value by infilling vacant sites as well as making enhancements to the properties over the next couple of years."

Davis added that HHC is seeking to acquire additional mobile home park assets in the greater Gulf area.

Foley is located in Baldwin County, Alabama, which is experiencing a rapidly growing population and offers 60 miles of beach frontage along the Gulf of Mexico.

For more information on this press release, please contact:

Darcie Giacchetto
D.G. Communications, Inc.


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