Austin, TX (November 1, 2010) - 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 its Manufactured Housing Group has been retained exclusively to market the afore mentioned Texas portfolio made up of six communities. The portfolio consists of four manufactured housing communities for sale in the Dallas area and two in Austin, all of which are being offered as loan assumptions that can be sold separately or as a portfolio.
Co-Directors of the ARA Manufactured Housing Group, Todd Fletcher and Andrew Shih, will lead the sale in conjunction with the ARA Dallas and Austin teams. With 2,220 sites included, this listing represents the largest, high quality manufactured housing community portfolio available in recent years.
"The assets are all in terrific locations, they are in excellent condition, and are experiencing strong operations. Every community is performing above 86% economic occupancy," said Todd Fletcher. Andrew Shih added, "This portfolio provides a very unique opportunity for investors to gain a substantial foothold in the strong Texas markets of Dallas and Austin."
The following manufactured housing communities make up the portfolio:
1) North Bluff Estates – 6600 Elm Creek Drive, Austin, TX – 274 sites
2) Stonegate – 1401 East Rundberg Lane, Austin, TX – 358 sites
3) Grand Place – 1345 Farmers Road, Grand Prairie, TX – 334 sites
4) Shady Grove – 3129 Racehorse Drive, Grand Prairie, TX – 220 sites
5) Creekside – 4000 Acre Lane, Lewisville, TX – 583 sites
6) Northwood – 402 East Highway 121, Lewisville, TX – 451 sites
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA and the ARA Manufactured Housing Group, locally, please contact Elizabeth DeKoch at edekoch@arausa.com or 512.637.1223, or nationally, Amy Morris at amorris@arausa.com or 678.553.9366. To view other listings from the ARA Manufactured Housing Group please visit www.ARAusa.com/manufacturedhousing/available.
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 average annual production volume of $6.3 billion in real estate transactions since 2003. For detailed information on ARA's extensive multihousing investment services, visit www.arausa.com.