Cherry Hill, NJ [April 9, 2021] – Vantage Commercial is thrilled to announce the successful sale of a 24-pad mobile home park in Hainesport, NJ. The spacious mobile home park had been in the former owner’s family for 40+ years and is easily accessible from Route 38.
Ken Richardson, Executive Director at Vantage Commercial, represented both the buyer and seller in this agreement that allowed the asset to efficiently change ownership. In just 8 weeks from acquiring the listing, Richardson identified the buyer, negotiated the transaction, and ultimately, sold the asset.
“The park will be well positioned for success and future growth with its new ownership. Once the opportunity was secured, we reached out to our network and secured a buyer rather quickly. During the recent COVID-19 pandemic, it is even more critical to have a strong understanding of the market. Our relationships with sellers, buyers, lenders and even the title companies become vitally important as we all need to be able to service clients during challenging times,” Richardson said.
The new owner plans on revitalizing the park including upgrading the infrastructure and common areas to increase occupancy and improve the tenant experience.