NorthMarq closed the 117-site Riverland Park manufactured housing community in Louisiana
PHOENIX, ARIZONA (September 5, 2019) – Riverland Park manufactured housing community, located at 10696 River Road in Saint Rose, Louisiana traded this month for an undisclosed purchase price.
The NorthMarq National manufactured housing team of Don Vedeen, Jared Bosch, and Chris Michl represented both the seller and the buyer in this transaction.
JWC Group, LLC, an entity formed by John Briggs of Denver, Colorado was the buyer.
“Riverland Park was an attractive investment due to its location, as it is situated just west of the greater New Orleans MSA,” said Vedeen. “The clean community, city utilities, and strong in place occupancy enticed many interested buyers and facilitated a smooth transaction.”
Riverland Trailer Park LLC, an entity formed by John Matassa of Houston, Texas was the seller.
The 117-site Riverland Park manufactured housing community, built in 1980, is located in Saint Rose, Louisiana. St. Rose has a few large employers, led by Southern Glazer’s Wine & Spirits beverage distributor, Randa manufacturing and distribution, and International Matex Tank Terminals, which operates bulk storage for petroleum and biofuels. These companies combine to employ more than 750 local residents.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
