The seller is an unidentified private party. With the addition of Hoosier Estates, Chateau owns six properties and 1,468 home sites in the Indianapolis market. Statewide, Chateau owns 11 properties and manages two sites, for a total of 2,400 sites.
"We are pleased to build our presence in the Indianapolis market," says Chateau executive vice president Rees Davis. "Hoosier Estates meets our criteria for quality, size, and operational potential."
The Chateau REIT, based in Greenwood Village southeast of Denver, has a 34-state portfolio of 167 manufactured home communities for an aggregate 52,600 home sites and 1,400 recreational vehicle sites. Chateau also manages 44 manufactured home communities totaling about 9,200 sites and owns or has options on 12 communities consisting of nearly 800 finished sites and about 4,500 sites for future developments.
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