National RV Communities buys Palm Village Mobile Home Park

BUYER: NHC-FL 139 LLC (National RV Communities LLC), Scottsdale, Ariz.

SELLER: Palm Village Mobile Home Park LLC

PROPERTY: 3502, 3512 and 3528 W. 14th St., Bradenton

PRICE: $4 million

LAW FIRM ON DEED: Gallagher & Kennedy PA, Phoenix, Ariz.

PLANS, DESCRIPTION: Scottsdale, Ariz.-based National RV Communities purchased the 145-lot Palm Village Mobile Home Park for $4 million.

The price equated to $27,586 per lot.

The 18-acre property features a swimming pool, spa, clubhouse, rental cottages, fitness facility, shuffleboard courts and laundry facilities. The community is currently 95% occupied.

National RV Communities owns and operates — under the Carefree RV Resorts brand — five other properties in Sarasota and Manatee counties and 28 in Florida. Stephanie Martin, a spokeswoman for the company, says the firm was attracted to Palm Village's location in Bradenton near the beaches.

The buyer plans to remodel the clubhouse, laundry and fitness facilities and upgrade the pool area. It plans to have the changes completed by the end of the year.

National RV Communities owns 59 communities with more than 13,500 sites in Florida, Texas, New Jersey, Massachusetts, North Carolina, California, Arizona and Ontario, Canada. Of the 59 communities 23 are mobile home properties and 36 are operated as RV parks.
The purchase entity NHC-FL 139 LLC mortgaged the property to General Electric Capital Corp. for $3.5 million.