Real estate brokerage firm sells Spartanburg mobile-home portfolio

A real estate brokerage firm has sold several mobile home developments in the Upstate.

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has sold a four-park, 100-space mobile home portfolio located in Spartanburg, according to a news release.

Financial terms of the deal were not disclosed.

The portfolio includes Gateview MHP 1 & 2 located at 108 Gateview Circle, Oasis MHP at 26 Oasis Park Lane, Chelsea MHP at 150 Chelsea Street and Spring Valley MHP at 101 Jamies Creek.

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“Despite challenges in the debt market, a heavy ratio of older park owned homes, smaller individual park sizes and three different cities included in the deal, we were able to bring the seller a top-of-market offer that closed at the contract price” said Dylan Hellberg, senior associate with the Esterson MHC Team, in the release. “It’s so important to have the best strategy and broker team for your deal, especially in an environment with many hurdles involved in getting to closing.”

Hellberg and Glenn Esterson, investment specialists in Marcus & Millichap’s Charlotte Uptown office, had the listing to market the property on behalf of the seller, and procured the buyer, who were not revealed in the release. Ben Yelm, broker of record in South Carolina, assisted in closing the transaction, according to the release.

In total, the properties contain 98 mobile home lots and two single-family homes, according to the release. All the parks are serviced by public water and three are serviced by public sewer.