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| College Park Mobile Home Community, Lake Wales, FL |
LAKE WALES, FL, Nov. 20, 2012 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has announced the sale of College Park Mobile Home Community
located in Lake Wales, Florida, according to Richard D. Matricaria, Regional
Manager of the firm’s Tampa office.
Dan Mulkey, a vice president investments and senior
director of the National Manufactured Home Communities Group in Marcus &
Millichap’s Tampa office, had the exclusive listing to market the property on
behalf of the local seller, College Park MHP, Inc.
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| Dan Mulkey |
The buyer, Mainstay Financial Services, a limited liability
company from Winter Haven, Florida, was represented by Cross Realty of Central
Florida.
College Park Mobile Home Community was built in 1973 and is
an all-age community totaling 99 home sites.
The property is located at 14465 US Highway 27, approximately five miles
south of State Route 60 in Lake Wales, home to Bok Tower and Botanical
Gardens. Most park sites are large
enough to accommodate double-wide coaches.
“The park sale was prompted by the decision of the operating
owner of the community to retire,” said Mulkey.
“The sale results in an investment offering Mainstay Financial an
opportunity to take advantage of the existing cash flow, and the ability to
improve the revenues by reclaiming ‘down units’ and back filling vacant spaces
with homes for sale or lease. The end
result should provide them with an excellent, long term investment.”
Press Contact:
Richard D. Matricaria
Regional Manager, Tampa
(813) 387-4700
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