Last year, Colliers also engineered the sale of upscale Songbrook, as MHProNews reported June 15, 2015, a 140-site MHC for $13.8 million, $98,000 per site, at the time the highest price ever paid for an MHC in the state, says bizjournals.portland.
Collier’s rep, Alex Cheng, said, “Summer Oaks is an exemplary community akin to SongBrook, which we sold at a similar valuation in 2015. Both sales demonstrate an insatiable appetite among investors for quality parks.”
Summer Oaks is a garden-style, senior-restricted MHC just north of the University of Oregon. Cheng, along with Skipp Rotticci and Kenneth Verbeck represented the seller, Zacron LLC, as well as the buyer, FollettUSA, which owns 12 MHCs in ten states.
Based in Sacramento, Calif., Follett also owns Santiago Estates in Springfield, OR, a 250 home site community. ##
(Photo credit: bizjournals.portland–Summer Oaks MH Community)
