Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Gasparilla Portfolio, a five-property, 656-site manufactured home community (MHC) portfolio in Thonotosassa, Gibsonton, and Ruskin, Florida.
“Sold for the first time in over 40 years, the portfolio is positioned to benefit from increased demand for affordable housing that stems from the strong appeal of living in the Tampa Bay Area,” said Dustin B. Wilmer, managing director investments with Marcus & Millichap. “Tampa has been one of the nation’s top 10 metros for absolute population growth since 2020. In one transaction, the incoming buyer took advantage of a rare opportunity to acquire institutional-level scale in high-demand markets with strong occupancy and significant upside.” Wilmer and Douglas Danny, senior managing director investments with Marcus & Millichap, in association with Ryan Nee, Marcus & Millichap’s broker of record in Florida, exclusively listed the portfolio on behalf of the seller, Nelson Steiner of Steiner Communities, and procured the buyer.
At the time of the sale, the portfolio was over 90% occupied and more than 85% of the homes were tenant owned. The portfolio’s community amenities include playgrounds, swimming pools, shuffleboard courts, clubhouses, boat launches, and private docks.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. 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 our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
