Trending...
- Maryland Market Money Program Transitions to the Maryland Department of Agriculture
- Santa Monica Businesses Push Back on Bus Stop Relocation That Threatens Access and Safety
- Ironside HR Named Fastest-Growing Staffing Firm for Second Year
BALTIMORE, Feb. 19, 2024 ~ In a recent transaction, two manufactured housing communities in the Lehigh Valley region of Pennsylvania were sold by Northmarq's Baltimore office. The sale was completed by senior vice president Ari Azarbarzin and associate broker Anthony Pino of Manufactured Housing Investment Sales.
The communities, Red Maple Acres and Mayo's Mobile Home Park, consist of 202 and 75 lots respectively. Both properties were built in the 1950s and have been continuously owned and operated by the same family for over 70 years. This marks the first sale of the communities since 1963.
According to Mr. Azarbarzin, Red Maple Acres and Mayo's Mobile Home Park are highly sought-after properties in the region. The new owners were attracted to the opportunity to gain significant economies of scale in the booming Lehigh Valley market through a competitive bidding process.
More on Marylandian
Mr. Pino added that both properties have a long history of providing affordable housing to the community and he is confident that the new owners will continue this legacy as responsible stewards.
The Lehigh Valley metropolitan statistical area has recently been ranked as the fastest-growing region in Pennsylvania for inbound migration among millennials. It has also been recognized as one of the top mid-sized markets for economic development projects announced or completed in 2022 by Site Selection magazine.
The sale price for these two properties was not disclosed. However, with their prime location and high occupancy rate of 98%, it is expected to be a significant amount.
Manufactured housing communities have become increasingly popular due to their affordability and convenience. With this recent sale, it is evident that they are also highly desirable investments in a rapidly growing market like the Lehigh Valley region.
As Northmarq continues to expand its presence in Baltimore, Mr. Azarbarzin and Mr. Pino's successful collaboration on this transaction further solidifies their expertise in this sector. The company remains committed to providing top-notch services to its clients and facilitating successful deals in the real estate market.
The communities, Red Maple Acres and Mayo's Mobile Home Park, consist of 202 and 75 lots respectively. Both properties were built in the 1950s and have been continuously owned and operated by the same family for over 70 years. This marks the first sale of the communities since 1963.
According to Mr. Azarbarzin, Red Maple Acres and Mayo's Mobile Home Park are highly sought-after properties in the region. The new owners were attracted to the opportunity to gain significant economies of scale in the booming Lehigh Valley market through a competitive bidding process.
More on Marylandian
- SeedList Launching Institutional Crypto Crowdfunding Project to Empower Retail Investors and Disrupt the VC-Dominated Crypto Fundraising Landscape
- Maryland State Board of Veterinary Medical Examiners Meeting Notice
- California Family Launches Billboard to Reach "Pardon Czar" Alice Marie Johnson
- Rent Like A Champion Acquires CollegeWeekends
- Sumter Landing Dental Care Launches Summer Special on Full Mouth Reconstruction
Mr. Pino added that both properties have a long history of providing affordable housing to the community and he is confident that the new owners will continue this legacy as responsible stewards.
The Lehigh Valley metropolitan statistical area has recently been ranked as the fastest-growing region in Pennsylvania for inbound migration among millennials. It has also been recognized as one of the top mid-sized markets for economic development projects announced or completed in 2022 by Site Selection magazine.
The sale price for these two properties was not disclosed. However, with their prime location and high occupancy rate of 98%, it is expected to be a significant amount.
Manufactured housing communities have become increasingly popular due to their affordability and convenience. With this recent sale, it is evident that they are also highly desirable investments in a rapidly growing market like the Lehigh Valley region.
As Northmarq continues to expand its presence in Baltimore, Mr. Azarbarzin and Mr. Pino's successful collaboration on this transaction further solidifies their expertise in this sector. The company remains committed to providing top-notch services to its clients and facilitating successful deals in the real estate market.
Filed Under: Business
0 Comments
Latest on Marylandian
- Nonprofit innovator named Mensa Executive Director
- Maryland: PUBLIC NOTICE: Unscheduled Mosquito Control Activity in Anne Arundel County
- Yasmine Roulleau named Managing Director in Vancouver, Canada
- Chasing Elizabeth Taylor — The Dazzling True Story Behind the Queen of Diamonds Now Available in Limited-Edition Hardcover
- $53 Million Company Valuation Investment with Majority Acquisition Option, Plus New Stock CUSIP Supporting Brand Transition of Fan Engagement Company
- $14M Deal with Famed David Lloyd for Sports, Entertainment & Gaming, AI Powered Fan Engagement Company; New Stock CUSIP; Creating Shareholder Value
- TMS Expands Sales Leadership Team with Addition of Meredith Douglas to Drive Growth in Association and Corporate Markets
- Disposable Vape Ban Spurs Hayati Innovation
- Prolific Hollywood "Unknown Actor" Leads 11 Day SoCal, Hands-On, Performer Employment Securing Residency that Shows Others How to Get More Work
- Dr. Harmon Completes Prestigious Zygomatic Implant Residency in Brazil
- Agreement to Deliver Thin-Film Solar Technology to Space Solar Array Provider, NASA Collaborative Agreement for Orbital Applications in Power Beaming
- Iterators LLC Honored with IST82 State Award for Accessibility in Massachusetts
- Josh & Heidi Share Upcoming "Spreading the Good BUZZ" Podcast Guests, Select Top Five Elopement Locations as Their Instagram Presence Grows Globally
- Opteamix Launches StackRewrite.AI to Transform Enterprise Legacy Modernization
- "The Pornified Generation": Dr. Chris Samuels Exposes the Toxic Alliance Between Bro Culture and Pornography That's Rewiring a Generation
- The Modern Insurance Store Expands Medicare Help Services for Seniors in Cincinnati
- Ironside HR Named Fastest-Growing Staffing Firm for Second Year
- Inframark Continues to Build Its Community Management Capabilities and Multi-Disciplinary Presence in Arizona
- ICAST 2025: The Crystal-Clear Revolution Begins at Booth #3233
- Burned-Out to Breakthrough: How Pain 2 Prosperity Authors Illuminate Founder Resilience