Riverstone Communities has acquired Medley Mobile Home Park, a 202-home site manufactured housing community (MHC) in northwest Miami-Dade County, sold by Andrew Ginsburg’s 7200 Corp. According to bizjournals.com, while the Dade County Appraiser assessed the property for $3.8 million, the $12 million price paid represents $59,405 per each site. MHProNews has learned Riverstone, headquartered in Birmingham, Michigan, is a privately-owned company with a portfolio of over 60 MHCs in eleven states. ##

(Photo credit: leecorp.com–Country lakes MHC)