Atlanta-based ARA, a full-service investment advisory brokerage firm focusing exclusively on the multihousing industry, handled the sale of the 1270 RV Ranch in Midland, Texas, the Midland Reporter-Telegram reported.
ARA’s Andrew Shih represented the seller, Catarina Ranch Investments, based in Sparks, Nev., in the transaction. The buyer was a California-based apartment group and first-time RV park buyer.
“The buyer has been a great apartment client of our firm for years. They decided to look into the (mobile home/recreational vehicle) asset class, and we were successful in selling them their first deal,” Shih said.
Shih added, “The seller wanted to diversify some of their real estate interests. They have done a great job turning the park around after taking it over from the original developer.”
1270 RV Ranch is a newly constructed, stabilized RV park boasting 118 sites with an “outstanding “location in the rapid- growth market of Midland, according to ARA.
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