Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Brian Hummell
Director
614.468.5773 brian.hummell@berkadia.com
Ian Hilpl
Managing Director
315.406.0900
ian.hilpl@berkadia.com
Hunter LaRocca
Director
407.227.9643
hunter.larocca@berkadia.com
Kevan Enger
Senior Managing Director
407.494.8541
kevan.enger@berkadia.com
Manufactured Housing Investment Advisors
RICK BRACE
Senior Director 248.341.3319 rick.brace@berkadia.com
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ORLANDO, FL OFFICE
300 South Orange Avenue
Suite 1500
Orlando, FL 32801
DUBLIN, OH OFFICE
6555 Longshore Street
Suite 280
Dublin, OH 43017
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S O U T H B E N D , I N
Located near the Indiana state line and part of the Niles-Benton Harbor, IN-MI Metro, South Bend is home to the University of Notre Dame and is situated along the St. Joseph River. A 20 minute drive to Downtown South Bend offers more than 30 restaurants and a variety of annual events, including Summer Restaurant Weeks, the Wine Walk, and Mactoberfest. The area is also home to thousands of manufacturing, healthcare, and trade, transportation, and utilities jobs. The 65-acre D.C. Cook Nuclear Power Plant is northwest of the subject property and adjacent to Lake Michigan, which generates enough electricity to power more than 1.5 million homes. The Port of Indiana- Burns Harbor, which is 50 miles southwest of the subject property, provides advantages to local businesses which move cargo by water, rail, and highway, and connects the Great Lakes with the Atlantic Ocean via the St. Lawrence Seaway.
Grand Rapids, MI
Grand Rapids is the county seat of Kent County, Michigan with a population of 2.1 million, making it the second-most populous city in Michigan, after Detroit. The city is situated along the Grand River approximately 25 miles east of Lake Michigan, and the economic and cultural hub of West Michigan. The city and surrounding communities are economically diverse, based in the health care, information technology, automotive, aviation, and consumer goods manufacturing industries, among others.
#12 BEST CITIES TO BUY A HOUSE IN AMERICA
– Niche
A OVERALL SCHOOL GRADE
– Niche
12% BELOW NAT’L AVG COST OF LIVING
– Forbes
#26 IN COST OF DOING BUSINESS
– Forbes
A OVERALL
SCHOOL GRADE
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– Forbes
3% BELOW NAT’L AVG COST OF LIVING
#38 BEST CITIES FOR YOUNG PROFESSIONALS
– NICHE
#45 BEST PLACES TO RETIRE
– US NEWS & WORLD REPORT
Berkadia Manufactured Housing is pleased to present the Michigan Portfolio, comprised of 624 sites across 5 communities. This offering is an attractive opportunity due to its size and high occupancy. Since it’s currently operating at 97% portfolio occupancy, there are few sites left to fill. Furthermore, most of the vacancies are park owned homes, allowing a new owner to easily lease up the portfolio to 99% occupancy. Coupled with its substantial size, the stabilized occupancy brings in reliable income. Additionally, the portfolio greatly benefits from other operational efficiencies, such as successful utility reimbursement and a low percentage of park owned homes. Both of these characteristics greatly contribute to a lower operating expense ratio. The Michigan Portfolio presents the enticing opportunity to acquire a stabilized portfolio in Michigan.
Portfolio Summary
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76 Sites
Forest Pines Manistee
1525 West County Line Road Manistee, MI
82 Sites
Spruce Tree MHP
14200 18 1/2 Mile Rd. Marshall, MI
99 Sites
Evergreen Village
946 N. Smith St. Hesperia, MI
104 Sites
Hidden Oaks MHP
14751 Apple Dr. Fruitport, MI
263 Sites
Franklin Woods
1950 S. 13th St. Niles, MI
5 Properties
624 Sites
Michigan 5-Park MHC Portfolio
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B A T T L E C R E E K , M I
The Battle Creek, MI, Metropolitan Statistical Area (MSA) encompasses nearly 720 square miles entirely within Calhoun County, midway between Detroit and Chicago. Home to nearly 135,000 residents, Battle Creek offers a low cost of living compared to other parts of Michigan while remaining within proximity to major employment nodes and entertainment hubs in southwest Michigan. Short commutes, breathtaking views, and abundant cultural attractions are some of the other reasons young professionals, empty nesters, and families are choosing to relocate to Battle Creek.
#19 BEST COUNTIES FOR YOUNG PROFESSIONALS
– US NEWS & WORLD REPORT
#27 BEST COUNTIES TO LIVE IN MICHIGAN
– niche
B OVERALL SCHOOL GRADE
– Niche
13% BELOW NAT’L AVG COST OF LIVING
– Forbes
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MICHIGAN MHC PORTFOLIO TURN-KEY ASSETS WITH OPERATIONAL EFFICIENCIES
SCALED ENTRY INTO MICHIGAN
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Hidden Oaks MHP & Evergreen Village
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263 Sites