Marcus & Millichap closed the sale of a 400-site all-age manufactured home community in Eastern Michigan. The $15.2 million sales price comes out to $37,865 per space.
Jonathon McClellan, vice president of investments, and Kyle Baskin, associate vice president of investments, both in Marcus & Millichap’s Cleveland office, represented the seller, a private investment group based in Arizona.
The buyer is Kingsley Management Corp.
The 88.2-acre community features concrete streets, mature trees and a creek. All homes have lap siding and shingled roofs.
