Manufactured Housing Community - Sale

NorthMarq’s National Manufactured Housing team sells the Circle T RV & Mobile Home Park in Mission, Texas

MISSION, TEXAS (January 14, 2021) – NorthMarq’s National manufactured housing team of Jared Bosch, senior associate, Don Vedeen, vice president, and Chris Michl, senior associate sold the Circle T RV and Mobile Home Park on December 30, 2020 for an undisclosed purchase price. The 270-site property is located at 1820 Clay Tolle Street in Mission, Texas. NorthMarq represented both the seller, Boston Road MHP INC, and the buyer, Lewis RR Properties LTD and/or Assignees.  

“NorthMarq’s Manufactured Housing Team was hired by the seller because of our national platform and experience in both Mobile Home and RV Resorts,” said Bosch. “Circle-T was a real value-add opportunity for someone to enter the Valley with scale and at a low basis. The buyers can tap into their existing management infrastructure to transition quickly; and have extensive capital projects planned over the first couple years of ownership.”

The Rio Grande Valley has long been a popular market for RV and Mobile Home communities, and Circle T presented the opportunity for the buyer to come in and add value to the community immediately.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.