MOUNT DORA, Fla., Jan. 5, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Hibiscus Mobile Home Community, a 14-acre manufactured home community in Mount Dora, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $7.8 million.
Dan Mulkey, first vice president investments in Marcus & Millichap’s Tampa office, represented the Buyer who is a limited liability company from New England. “Hibiscus Estates is a 55-plus community in the city of Mount Dora, a one-hundred plus year old historic village in the heart of Central Florida on the shores of beautiful Lake Dora. This charming little city is well known for its antiques and is exceptional for retirement living. Hibiscus Estates is one of a three-park portfolio being purchased by the buyer who is in the process of building an assemblage of senior communities throughout the state of Florida. To date they have amassed seven or more communities totaling close to 1,000 units,” says Mr. Mulkey.
Built in 1962, Hibiscus Mobile Home Park a 55-plus community with approximately 153 residential units. The property is located at 1 Hibiscus Avenue in Mount Dora, Florida.
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With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com