- September 13, 2013
National Home Communities buys Club Wildwood
BUYER: NHC-FL130 LLC (National RV Communities LLC), Scottsdale, Ariz.
SELLER: Club Wildwood LLC
PROPERTY: 7700 Parkway Blvd., Hudson
PRICE: $20.2 million
TITLE FIRM ON DEED: First American Title Insurance, Clearwater
PLANS, DESCRIPTION: Scottsdale, Ariz.-based National Home Communities LLC/National RV Communities LLC, purchased the Club Wildwood Mobile Home Park, a 478-space senior manufactured-home community in Hudson for $20.2 million.
The purchase price equated to $42,259 per unit.
Dan Mulkey, a vice president of investments in Marcus & Millichap's Tampa office, represented the buyer.
Wildwood was developed between 1974 and 1979 and features a clubhouse, swimming pool, bocce ball, laundry facilities and shuffleboard courts. The vast majority of the lots are doublewide. The park was 100% occupied when sold.
“Club Wildwood's 478 sites place it in the top 5% of Florida's largest senior manufactured housing communities,” Mulkey says in a press release. The park's size and high quality made it highly sought after.
The new ownership is in the process of painting the clubhouse and resurfacing the parking lot. It also plans to replace the fencing and improve the landscaping at the entrance.
The property was mortgaged to General Electric Capital for $14.2 million. National Home Communities LLC owns and operates 52 manufactured home communities and RV resorts, including 42 in Florida.