Crystal View Capital Sells Louisville Mobile Home Community For $15M

Southland Mobile Home Community. Image via Google Street View Crystal View Capital has sold the…

Southland Mobile Home Community. Image via Google Street View

Crystal View Capital has sold the Southland Mobile Home Community, a 311-site manufactured housing community in Louisville, Ky., for $15 million. The seller previously acquired the property in 2019 for $7.1 million. The transaction was part of the company’s second private equity real estate fund, Fund II, launched in 2017, and included eight other manufactured housing communities and 14 self-storage facilities.

Public records show an entity connected to The BoaVida Group acquired Southland Mobile Home Community. Additionally, the new owner assumed a $4.3 million Fannie Mae loan that Berkadia originated for the seller in 2020.

Located at 401 Outer Loop, the property is some 4 miles from Interstate 65, a little 8 miles from Louisville International Airport and almost 13 miles from the metro’s downtown. Completed in 1967 on some 42 acres, the Southland Mobile Home Community also features a clubhouse.

At the end of January, The BoaVida Group spent $5.5 million to acquire Vista Estates, a manufactured housing community in Storm Lake, Iowa. A Marcus & Millichap team brokered the transaction on behalf of the new owner.  

See also  Campus Advantage JV Buys Lexington Student Housing Community