NorthMarq’s national manufactured housing team completes $11.6 Million sale of the 5-Star Meridian RV Resort

PHOENIX, ARIZONA (December 16, 2020) – NorthMarq’s national manufactured housing team of Don Vedeen, vice president, Jared Bosch, senior associate and Chris Michl, senior associate sold the Meridian RV Resort on December 14. The 252-site property is located at 1901 South Meridian Road in Apache Junction, Arizona. NorthMarq represented both the buyer, Equity LifeStyle Properties Inc. and the seller, GlassRatner Advisory & Capital Group, LLC.  

“Our team was retained to sell the asset out of receivership due to our experience in the space with large dispositions,” said Vedeen.  “The national marketing process generated more than 13 offers even during a global pandemic and ultimately being sold to a very qualified REIT.”

Meridian RV Resort is a 5-star, 55+ senior community located just outside of the fast-growing Phoenix MSA. The community has numerous resort-inspired amenities and hosts a variety of weekly activities for their tenants. This sense of community and the fact that the resort is minutes away from major economic drivers in Phoenix, Mesa, and Chandler, keeps guest coming back year after year.