Happy Home Communities Buys Mobile Home Portfolio in Pennsylvania for $13 Million
PENNSYLVANIA — Happy Home Communities (HHC), the mobile home park and RV park investment arm of Los Angeles-based Gelt Inc., has acquired a mobile home park portfolio in central and northeast Pennsylvania for $13 million. HHC acquired the three-property 439-space portfolio from Horizon Land Company. Jonathon McClellan of Marcus & Millichap brokered both sides of the transaction.
The company plans to bring in affordable manufactured homes to fill approximately 48 empty lots and will upgrade common areas and add amenities, including playgrounds, to the properties over the next 36 months. A. Hunter Property Management, a firm focused on the management of manufactured housing communities throughout Pennsylvania, has been retained to take over management responsibilities for the portfolio, which includes:
- Birchwood Village Estates, a 209-space, 26.26-acre mobile home park located at 1946 Wyoming Avenue in Exeter. It is currently 82 percent occupied.
- Timberend Mobile Home Community, a 153-space, 70.6-acre mobile home park located at 528 Ruben Lehrer Road in Muncy just outside of Williamsport. It is currently 85 percent occupied.
- Wedgewood Mobile Homes Community, a 77-space, 19.16-acre mobile home park located at 23 Minton Drive in Selinsgrove. It is currently 90 percent occupied.