CRE V Michigan

ARA closes sale of 16-property manufactured housing community; some sites located in Michigan

Grand-Place

Atlanta's ARA recently closed the sale of a 16-property manufactured-home community portfolio containing 5,919 land-lease home sites, including several in Michigan.

Atlanta's ARA recently closed the sale of a 16-property manufactured-home community portfolio containing 5,919 land-lease home sites, including several in Michigan.

The portfolio includes land-lease home sites in Michigan, Arizona, Colorado and Texas.

Todd Fletcher and Andrew Shih, ARA national manufactured housing group co-directors represented the seller, Hometown America, a private owner/operator based in Chicago. The buyer, Amerian Manufactured Communities REIT, is a privately held REIT newly formed to acquire, own and operate manufactured housing community and related assets.