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Doublewide: Bedrock acquires two mobile home parks in Riviera Beach
Bedrock bought the two parks for $26,402 per home site
A company tied to Bedrock Communities bought two mobile park home parks in Riviera Beach for $8 million.
Tampa-based Bedrock bought a total of 303 mobile home sites at 3030 Broadway Boulevard and 3051 Broadway Boulevard for $26,402 per home site, records show. A company tied to Kansas City-based Mission Peak Capital sold the properties.
Bedrock scored an $8.8 million loan from RCC Real Estate to acquire the properties.
In 2014, Mission Peak bought the 236-home site property at 3051 Broadway Boulevard for $3.1 million. It then bought the 67-home site property at 3030 Broadway Boulevard in 2016 for $915,000, records show.
Bedrock Communities owns a number of mobile homes communities in Florida, but none in South Florida, according to its website. Its other properties in the Sunshine State include Tall Pines, a 257-unit, active adult community in Fort Pierce.
Sam Zell’s Equity LifeStyle Properties and Carlyle Group have been buying mobile home properties in South Florida, where developers are already constrained by land. In December, Equity LifeStyle paid nearly $50 million, or about $53,000 per lot, for a mobile home park near Riviera Beach.