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South Florida

Riverstone Communities grabs Medley mobile home park

sold

The Medley Mobile Home Park changed hands for $12 million.

A company tied to Birmingham, Mich.-based Riverstone Communities acquired the 8181 Northwest South River Drive park in a transaction recorded last Tuesday, according to Miami-Dade County records. Riverstone obtained a $9 million mortgage from General Electric Capital Corp. for the purchase.

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The seller is 7200 Corp. of Hialeah. It owned the property for 45 years before the sale to Riverstone, according to county records. Miami-Dade’s property appraiser website does not identify the size of the mobile home community.

A private company founded in 1998, Riverstone owns and operates more than 60 mobile home parks in 11 states, according to its website. — Eric Kalis

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