Multifamily b N Dakota

NorthMarq sells five-property manufactured housing portfolio in North Dakota

NorthMarq sells five-property manufactured housing portfolio in North Dakot,ph01

NorthMarq Multifamily’s National Manufactured Housing group closed the sale of a five-property portfolio in Minot, North dakota, 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 properties include

• The 310-site Woodridge Mobile Home Community at 405 31st Ave. was built in 1984 and is situated on 81.11 acres.

• The 75-site Edgeview Estates Mobile Home Community located 1500 18th St. was built in 1985, is situated on 11.38 acres.

• Three condominium properties made up of 46 units were built in 2006 and 2012 and are situated on 28.45 acres combined.

NorthMarq’s Manufactured Housing group, based in Phoenix, represented the buyer and seller in the transaction. North Hill Condos, LLC, and Woodridge Mobile Home Park LLC, were the sellers.