Mall owners may buy nearby Manufactured Home Community in receivership

Sabre_MHC_Courtesy_Niagra_Gazette posted on Manufactured Home Marketing Sales Management MHMSM.comBuffaloNews reports that the new owners of the Niagara Factory Outlet Mall are interested in purchasing the Sabre Park ‘mobile home park.’ The Sabre Park community is in foreclosure, with a mortgage of approximately $6 million. Jason Daack, regional manager for Mobile Home Parks, has no ownership interest in the property. Mobile Home Parks are managing the property during the foreclosure process. The mall owners hope to close the deal by Sept. 1, “but nobody is being asked to move by Sept. 1,” Daack said. Daack confirmed Monday that notices were being delivered to each home to inform residents of the potential sale. The community reportedly has 214 occupied sites, each of them renting for about $360 a month, with manufactured homes that are generally owner occupied. The regional manager explained that residents have the right to form a homeowners association and to buy the property themselves on the same terms as the shopping outlet mall. Macerich Co., a real estate investment trust with headquarters in Santa Monica, Calif., purchased the mall last month for $200 million.

(photo credit: Niagara Gazette)

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