Marcus & Millichap Brokers Sale of Mobile Home Park Portfolio in Pensacola

PENSACOLA, Fla., March 14, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a three-park, 119-unit property portfolio located in Pensacola, Fla.  

"Despite hurricane risk, flood zone and challenging debt and insurance markets, we were able to procure multiple competitive offers for the seller and efficiently close with the winning buyer," says Dylan Hellburg, senior associate. "We would like to thank the seller and buyer for working with us and each other to facilitate a great transaction for both parties."
 
Hellberg and Glenn Esterson, investment specialists in Marcus & Millichap’s Charleston and Charlotte Uptown offices, had the exclusive listing to market the property on behalf of the seller and procured the buyer. Ryan Nee, Broker of Record in Florida, assisted in closing the transaction. 

The portfolio includes 99 Oaks located at 8521 Fowler Ave., Patriots 1 at 9827 Mobile Hwy and Patriots 2 at 558 E. 9 Mile Road.  

In total, the properties have 119 units, including 95 tenant-owned homes, 20 rented RV lots, one rented park-owned home, one rented stick-built office and two vacant RV lots. Situated in the thriving coastal city of Pensacola, all parks are within a 30-minute drive from Pensacola International Airport and pristine beaches.  

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.