Marcus & Millichap closed the sale of the 146-space Port of Call Manufactured Housing Community in Port Huron, Michigan. The property sold for $9.75 million.
Marcus & Millichap Capital Corporation, a subsidiary of Marcus & Millichap, secured $7.21 million in financing.
Chase Gilewski and Chris Futo, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Luke Lamoreaux, associate director in the firm’s Detroit office, secured the financing with a national housing lender that specializes in manufactured, modular and mobile homes, on behalf of the buyer.
Port of Call was developed in 1995 and spans 30 acres in Port Huron Charter Township. The community is licensed for 146 homesites, 143 of which are occupied. Of the homes, 94 are double-wide and 49 are single-wide, with 112 community-owned and 31 tenant-owned homes. All utilities are public and individually metered, and the property features off-street parking, community lighting and a basketball court.
