Newspaper article THE JOURNAL RECORD

Three Mobile Home Parks in Oklahoma Sell for $6.75M

Newspaper article THE JOURNAL RECORD

Three Mobile Home Parks in Oklahoma Sell for $6.75M

Article excerpt

A Michigan investor has acquired a portfolio of three mobile home parks here for about $6.75 million.

Together, the three parks contain 477 spaces for a unit price of $14,150 per space.

The Keith family, which has acquired 14 mobile home parks in Oklahoma City and Stillwater over the past three years, was the previous owner of the parks, said real estate broker Keith Wilson, of the Keith Wilson Co. Wilson, who specializes in selling apartment complexes and mobile home parks, represented the sellers in the transactions.

Together, the three parks generate more than a million dollars in annual income each year, Wilson said.

The buyer was Southfield, Mich., investor Richard Nodel, who owns about 30 mobile home parks across the country.

Nodel could not immediately be reached for comment on Wednesday.

The parks include Granada Village Mobile Home Park, at 2400 S. MacArthur Blvd., which sold for $4.7 million as part of the deal.

The 50-acre Granada Village includes 334 spaces and has an 85- percent occupancy rate. …

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