FROSTPROOF, FLA., November 8, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Rainbow RV Resort, a 127-acre recreational vehicle community located in Frostproof, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office.
Dan Mulkey, a vice president investments and senior director of the National Manufactured Home Communities Group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of a Florida based seller. Mr. Mulkey also secured the buyer, Sun Communities, a highly respected Michigan based REIT specializing in owning and operating high quality RV Resorts and mobile home communities nationwide.
Rainbow RV Resort is located just off US Highway 27, a short drive south of Lake Wales, Florida. This five-star, senior (55+) recreational vehicle community was originally constructed in 2000 and features a high quality amenity package, including a spacious heated swimming pool, two spas, a 15,000-square foot modern clubhouse with a game room, craft room, card room exercise area, woodshop, bocce ball, shuffleboard, horseshoes, library, computer stations and laundry facilities.
The community’s exclusive nature is enhanced by the gated entrance and perimeter fencing. There is also an on-site office and various support staff for the community in place.
“Rainbow RV is a beautiful community, having all lots large enough to accommodate permanent park model homes,” says Mulkey. “Every year more permanent units are added, providing a stabilized income going forward. The park enjoys many of the same campers returning each year, adding to its stability. Rainbow has been extremely well-maintained and operated and fits well into Sun Community’s impressive portfolio.”