Saturday, August 26, 2017

Happy Home Communities Acquires 439-Space Mobile Home Park Portfolio in Central and Northeast Pennsylvania for $13 Million

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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 mobile home park portfolio in central and northeast Pennsylvania.

HHC acquired the three-property 439-space portfolio from Horizon Land Company for $13 million.

"HHC liked this portfolio because it is a stabilized and cash-flowing investment that will produce strong returns for our investors. It also offers value-add opportunities by managing the operating budget more efficiently, and bringing in affordable manufactured homes to fill approximately 48 empty lots," said Ellie Davis, director of acquisitions and asset management for Happy Homes Communities.

 "Over the next 36 months we are planning to improve the communities by upgrading common areas as well as adding amenities including playgrounds to each of the properties."

For more information on this news release, please contact:

Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224

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