1829 37TH ST W Williston ND 58801

The Colliers Manufactured Housing Group is pleased to offer the opportunity to acquire a 100% interest in North Dakota MH Portfolio, consisting of 146 housing units located in northwest North Dakota.

49% of the homes in the portfolio are fee-simple and 58% of the NOI is fee-simple.

The Asking Price for the portfolio is $13,500,000. At this price, the Year 1 cap rate is 10.0%.

There is an opportunity for buyers looking for a larger portfolio, to take advantage of the growth of the North Dakota energy market and increase management synergies, totaling $25.0 million. This includes the North Dakota Industrial Portfolio and the North Dakota Industrial Land deal from the same seller and three properties currently being marketed by ERES.

Despite the dramatic fall in oil prices in 2014, oil and natural production in the Williston Basin has remained strong. After declining 23%, current daily oil production has returned to prior peak levels. The permanent working population production, fracking, and gathering— have continued to increase even through the 2014 oil price decline, leading to a high demand for housing.

Click here for: North Dakota Industrial portfolio

Pricing has been reduced and updated expenses have been placed in the Due Diligence Vault.

Hillview Estates: https://www.crexi.com/properties/296388/north-dakota-hillview-estates-mhc

Sand Creek Estates: https://www.crexi.com/properties/287646/north-dakota-sand-creek-mhc-portfolio

Watford Apartments & Homes: https://www.crexi.com/properties/296411/north-dakota-watford-apartments-homes

• The portfolio is located in three of the most significant cities for oil and gas development in the Bakken region: Williston, Alexander, and Watford City.
• Due to the properties proximity to each other, the portfolio can be managed efficiently, as the current owner has a single property manager for the entire portfolio.
• The portfolio is well-occupied and has seen significant rent growth over the last year as oil prices have increased and driven increased demand for housing in the area.