Operator of manufactured home communities buys vacant land

MHC Operating Limited Partnership bought the land for $2.2 million.

By Business Observer Staff
| 7:49 p.m. April 30, 2020
| 2 Free Articles Remaining!

Courtesy. SVN Commercial Advisory Group has managed the sale of 4.6 acres of vacant land in Ellenton forÂ $2.2 million.Â

Manatee-Sarasota

ELLENTON — Equity Lifestyle Properties Inc., which owns the Colony Cove mobile home community in north Manatee County, has acquired 4.6 vacant acres in Ellenton for $2.2 million.

The land, at 7205 U.S. 301, is directly behind the Colony Cove property, according to a statement. The buyer, MHC Operating Limited Partnership, a subsidiary of Equity Lifestyle Properties Inc., bought the property from 1167159 Alberta LTD, the release adds. Equity LifeStyle Properties operates manufactured home communities, RV resorts and campgrounds in North America.

SVN Commercial Advisory Group Senior Advisor Tony Veldkamp and Advisor Matt Fenske represented the seller, while Max Boehmer of Vertica Partners represented the buyer.

“The number one rule in real estate is to check with the neighbors," says Veldkamp in a statement. "The owners of the Colony Cove mobile home community have had an interest in this site for a long time, but the price had always been a deterrent. With the slight price reduction we instituted, we finally got to a range where they could make it work, so everyone wins.”