Florida Hit with Another Wave of MHC Deals

The Sarasota Herald-Tribune reports Saralake Estates LLC was sold to NHCFL138 LLC of Scottsdale, Arizona, for $10.55 million. The purchase of the 200 homesite MHC was financed by General Electric Capital Corporation with a loan of $7.35 million. The new owner, a company controlled by National RV Communities LLC, has also borrowed $48.2 million to finance the acquisition of six more communities in Florida. Equity Lifestyle Properties Inc. (ELS), of Chicago, finalized the purchase in August of 2,211 homesite Colony Cove in Ellenton, and Emerald Lake in Punta Gorda with 201 homesites, from Hometown America Communities. As of today, ELS controls 368 properties in 32 states and British Columbia, Canada, with more than 136,000 homesites.

(Photo credit: Saralake Estates)


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