HARLINGEN, TX - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, is pleased to announce the sale of Carefree Valley MH/ RV Resort in Harlingen, TX.
ARA National Manufactured Housing Group’s Andrew Shih and Brian Vita (based in Austin, TX) and Todd Fletcher (based in Denver, CO), represented the Seller, MC Companies, based out of Vancouver, Canada. The property was sold to a private owner/ operator out of Minnesota.
“Carefree Valley is a unique 271-site property with a mix of MH and RV sites,” said Vita. “However, through a broad, national marketing effort, we were able to find an experienced operator that understands both sides of the business.”
Shih added, “It was a rare opportunity to acquire a large, stabilized, age restricted community in Texas. The buyer had a chance to add to his Texas portfolio and take advantage of the growing demand for affordable retirement housing in the Rio Grande Valley.”
Constructed in 1974, Carefree Valley is a well maintained, age-restricted community with public utilities situated in the heart of the Rio Grande Valley. In addition, the community is located in close proximity to several major thoroughfares including Highway 77 and Highway 83, the major north-south arteries through Harlingen, TX.
The city is located 30 miles from the Gulf of Mexico and is less than an hour from South Padre Island, a popular tourist destination. With its temperate climate and attractive scenery, Harlingen is becoming an increasingly popular destination for retirees and snowbirds escaping winter weather in the north. Additionally, Harlingen is home to a blooming health care industry and outstanding medical facilities. Four of the top ten employers in the city are in the medical field, including the Valley Baptist Medical Center, the Harlingen Medical Center, and the Regional Academic Health Center.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 404.990.4900 or Amy Morris at amorris@ARAusa.com, 404.990.4902; locally, Allison Blount at ablount@arausa.com, 512.637.1229.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com.