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.