Northmarq’s Los Angeles team, led by Managing Director Jeff Benson and Senior Vice President Sam Neumark, successfully brokered the sale of a three-property manufactured housing portfolio in the Pacific Northwest for $14.3 million.
The portfolio consists of Oaks Mobile Home Park and Woodlands Mobile Home Community in Woodland, Washington, as well as Western Star Mobile Home Community in Roseburg, Oregon. Northmarq represented both the seller and buyer on these transactions. Harmony Communities from Vancouver acquired Western Star while Hurst and Son LLC from the Pacific Northwest purchased the two Woodland communities.
Despite market volatility, this sale highlights strong demand for quality assets in desirable locations like Oregon and Washington,” stated Managing Director Jeff Benson.
In recent news: Northmarq has completed a successful $14 million sale of a manufactured housing portfolio located in the Pacific Northwest region. The deal was facilitated by their Los Angeles-based team consisting of Managing Director Jeff Benson and Senior Vice President Sam Neumark.
The three-property portfolio includes Oaks Mobile Home Park and Woodlands Mobile Home Community situated in Woodland, Washington along with Western Star Mobile Home Community located at Roseburg,Oregon.The brokerage firm acted on behalf of both parties involved -the seller as well as buyer.Harmony Communities,a private investment group based outofVancouver BC,purchasedWesternStarwhileHurstandSonLLC,a private investor hailingfromthePacificNorthwestregion,boughtthetwoWoodlandcommunities.
JeffBenson,theManagingDirectoratNorthmarqsaidthatthisdealisa testament to thereal estate market’s resilience despite fluctuationsin capital markets.He further added that there is still high demandfor premium properties positioned strategically suchas those foundinOregonandWashingtonstates.This transaction servesas an exampleof this robustdemandforqualityassetsinprime locations.”
