Marcus & Millichap Inc.
08/29/2024 | Press release | Distributed by Public on 08/29/2024 14:47
Marcus & Millichap Arranges Sale of 3 Park, 142 Unit Manufactured Housing Portfolio in North Carolina
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Marcus & Millichap Arranges Sale of 3-Park, 142-Unit Manufactured Housing Portfolio in North Carolina
August 29, 2024
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BURLINGTON, N.C., August 29, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a three-park mobile home portfolio located in Burlington, North Carolina.
"We were pleased to close this deal with both a repeat seller and a repeat buyer," said Dylan Hellberg, senior associate. "Despite multiple challenges, our team's diligent approach procured multiple competitive offers, ultimately securing an excellent buyer who was able to close on the contract. Manufactured housing communities have increasingly come into the spotlight, and it can be difficult to distinguish between a real opportunity and what's just noise. I always encourage sellers to consult with a broker, or even multiple brokers, before initiating a sale."
Hellberg and Glenn Esterson, investment specialists in Marcus & Millichap's Charlotte Uptown office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer.
Positioned between the major metropolitan areas of Greensboro and Raleigh-Durham, the portfolio includes Hidden Valley located at 1149 Wyatt Road, Hidden Valley North at 2111 NC-49, and Village MHP at 1938 State Highway 49. The properties consist of 140 manufactured housing lots, one single-family home and one commercial unit.
"We were pleased to close this deal with both a repeat seller and a repeat buyer," said Dylan Hellberg, senior associate. "Despite multiple challenges, our team's diligent approach procured multiple competitive offers, ultimately securing an excellent buyer who was able to close on the contract. Manufactured housing communities have increasingly come into the spotlight, and it can be difficult to distinguish between a real opportunity and what's just noise. I always encourage sellers to consult with a broker, or even multiple brokers, before initiating a sale."
Hellberg and Glenn Esterson, investment specialists in Marcus & Millichap's Charlotte Uptown office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer.
Positioned between the major metropolitan areas of Greensboro and Raleigh-Durham, the portfolio includes Hidden Valley located at 1149 Wyatt Road, Hidden Valley North at 2111 NC-49, and Village MHP at 1938 State Highway 49. The properties consist of 140 manufactured housing lots, one single-family home and one commercial unit.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.