ST. CLOUD, FL - 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 Jade Isle Manufactured Home Community in St. Cloud, Florida.
ARA National Manufactured Housing Group’s Andrew Shih and Brian Vita (based in Austin, TX) and Todd Fletcher (based in Denver, CO), represented the institutional seller in the transaction. The property was sold to a private owner/ operator.
“It was a very rare opportunity to acquire an age-restricted, REO community in Central Florida,” said Andrew Shih. “Jade Isle offers a peaceful environment for residents with water views and mature landscaping which perfectly positions it to capture the exploding number of baby boomers seeking affordable, retirement living.”
Todd Fletcher added, “There was tremendous interest from investors wanting to acquire this asset. We received double digit offers and it just shows how much capital is out there looking to acquire manufactured home communities.”
Constructed in the 1970’s, Jade Isle is a well-maintained community with municipal utilities situated in the attractive retirement market of Central Florida. The community features a clubhouse, library, sparkling swimming pool, shuffleboard court, bocce, and a private canal with access to Lake Runnymede and East Lake Tohopekaliga (the second largest lake in Osceola County).
The property is conveniently located on the south side of the Orlando MSA off of Florida’s Turnpike. It is 31 miles from downtown Orlando, FL, 10 miles from Kissimmee, FL, and 24 miles from Disney World.
To schedule an interview with an ARA executive 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 has resulted in an annual production volume of more than $10.2 billion in real estate transactions in 2013. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com.