Atlanta, Georgia-based investment advisory brokerage firm ARA announces the sale of Saratoga Hills manufactured housing community in Stillwater, New York, 24 miles from Albany. Saratoga is an all-age community of 300 homesites sitting on 91 acres with a mix of single and multisection homes. According to nreionline.com, the seller is a commercial real estate investment firm in Dallas; the buyer is a private owner/operator. Although the selling price was not disclosed, MHProNews has learned independently the community was listed at $7.1 million in July of this year, and has room to expand the number of homesites. Constructed in 1970, the seller acquired the non-performing mortgage on the property ten years ago, connected it to public water and sewer and increased the occupancy to 73 percent.
(Photo credit: mobilehomeparkstore–Saratoga Hills)