1110 E COLEMAN RD Lansing MI 48906-1908

Colliers Manufactured Housing & RV Group presents the investment opportunity to acquire the 416-site, Michigan MHC Portfolio. The parks span over 33 acres and are located within an hour and a half of each other in two major metros, Lansing and Detroit, with populations boasting millions of residents, prestigious Universities, Fortune 500 companies and much more. The communities represent an infill opportunity in well-occupied markets with high rents at an asking price below replacement cost.

The asking price for the portfolio is $6,750,000 ($16,226/site)

The properties are offered as a portfolio or individually.

• Opportunity to purchase two communities with low occupancy which are located in high population MSAs with market occupancy and perform a value-add infill strategy to stabilize the communities.

• Kristana recently had over $230,000 in capital improvements, Including a new lift-station, demolishing of 10 homes, adding new community sign and street signs, and upgraded 20 new HUD approved sites.

• Continental’s rents are currently below market (~$525). There is an opportunity to increase rents by more than $60 and execute the lease up of 236 sites/homes.

• Located in major metros in the Central Michigan area. The Greater Detroit MSA boasts over 4.2 million residents and is home to numerous Fortune 500 companies such as General Motors (whose Global headquarters is in Detroit) Ford Motor Company (25K Employees) and Quicken Loans (17K Employees).