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Northmarq Completes $14M Sale of PNW Housing Portfolio
Northmarq’s Los Angeles Manufactured Housing Investment Sales team of Jeff Benson, managing director, and Sam Neumark, senior vice president, brokered the sale of a three-property manufactured housing portfolio in the Pacific Northwest for $14.3 million.
The portfolio totals 213 spaces and includes Oaks Mobile Home Park and Woodlands Mobile Home Community in Woodland, Washington, as well as Western Star Mobile Home Community in Roseburg, Oregon.
Northmarq represented the seller and buyer on both transactions. Western Star Mobile Home Community was acquired by Harmony Communities, a private investment group based in Vancouver, BC. The Woodland communities were acquired by Hurst and Son LLC, a private investor based in the Pacific Northwest.
“The sale of the Pacific Northwest Portfolio demonstrated that despite the volatility in the capital markets, demand for quality assets in strong locations — such as Oregon and Washington — remains quite strong,” said Managing Director Jeff Benson.
