Denver Cascade, a 382-space manufactured home community in Denver, sold for $62 million ($162.3k/space), making it the highest-price manufactured housing community (MHC) sale in Colorado’s history and the largest non-coastal MHC transaction in the U.S. in 2024.
Norm Sangalang, Erik Edwards, Jon Shay, Jez Lawson and Myles McGinnis with CBRE’s Manufactured Housing & RV Resorts team represented the seller, Denver Cascade LLC, in the transaction.
“This sale not only represents a milestone for Denver’s housing market, but also reinforces the growing value of manufacture housing communities as a critical component of the nation’s housing landscape,” said CBRE’s Shay.
The $62 million sale sets a new precedent for the manufactured housing market, emphasizing the sector’s continued strength and resilience. As demand for affordable housing surges across the U.S., this transaction reflects growing investor confidence in the stability and long-term growth of manufactured housing communities. Ranking as 2024’s highest-priced MHC sale outside Malibu, Denver Cascade stands as a testament to the opportunities in this evolving housing market.
CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
