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Mobile Home Park Portfolio Coming to Market

SAN FRANCISCO-Marcus & Millichap lands a multi-state brokerage assignment from one of the largest private owners of manufactured home communities in the nation.

By Brian K. Miller | Updated on November 25, 2007

SAN FRANCISCO-Marcus & Millichap’s locally based manufactured home brokerage division has landed a significant disposition assignment from American Residential Communities. Denver-based ARC is one of the largest private owners of manufactured home communities in the nation with 57,600 home sites in 275 developments in 23 states. M&M is now marketing 25 properties (4,388 home sites) for ARC and expects to bring more ARC properties to market in the coming months.

Previously known as Affordable Residential Communities, ARC was taken private in July by Farallon Capital Management, Helix Funds and GEM Realty Capital for more than $1.79 billion in cash and assumed debt, according to SEC filings. Jeffrey Mishkin, the San Francisco-based national director of M&M’s Manufactured Home Communities Group tells GlobeSt.com that the private equity firms are now in the process of winnowing the portfolio down to a more manageable size.

“They told us ‘it’s too many properties to own,’” Mishkin says. “There will be additional properties.”

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