Expands practice with addition of new broker, Jared Bosch
MINOT, NORTH DAKOTA (OCT. 15, 2018) – NorthMarq Multifamily’s National Manufactured Housing group announces the sale of a five-property portfolio in Minot, ND, and the expansion of the team with the addition of broker Jared Bosch.
The portfolio, which includes two manufactured housing communities and three condo properties with a total of 431 units, was sold to MHPI VII, LLC, an entity formed by Dahn Corporation of Irvine, California for $21.9 million.
“The Minot Portfolio was an excellent opportunity for new-to-market buyers to acquire economies of scale,” says Don Vedeen, vice president and NorthMarq’s leader of the manufactured housing group. “Both properties were clean and well-maintained, securing the buyer stable cash-flow.”
The properties include:
- The 310-site Woodridge Mobile Home Community located at 405 31st Avenue was built in 1984 and is situated on 81.11 acres.
- The 75-site Edgeview Estates Mobile Home Community located at 1500 18th Street was built in 1985, is situated on 11.38 acres.
- Three condominium properties comprised of 46 units were built in 2006 and 2012 and are situated on 28.45 acres combined.