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ARC Auctioning Off 71 Residential Communities in 15 States

DENVER-A local company will be selling manufactured housing communities that could fetch as much as $280 million in what is being described as the largest real estate auction ever in the nation. What makes the auction unique, in addition to its size, is that the communities will be sold by cap rates, not by price.

By John Rebchook | Updated on December 05, 2005

(To read more on the multifamily market, click here.)

DENVER-Locally based Affordable Residential Communities, one of the largest publicly traded owner and manager of manufactured housing communities in the US, is auctioning 71 communities in 15 states on Dec. 15. The auction, being held by the local office of Sheldon Good & Co., will be by far the largest income-producing auction ever held in the nation, says Jim MacDonnell, who heads the Denver office for Chicago-based Sheldon Good.

“There has never been an auction of a portfolio of income producing properties in the US of this size,” MacDonnell tells GlobeSt.com. “If you look at offices, retail or apartments, nothing comes to close to this. And commercial real estate auctions dwarf residential ones in dollar value, so this would be the largest real estate auction of its kind.”

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