Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Oasis Mobile Home and RV Park, a 144-site park located in Kingsville, Texas, according to Tim A. Speck, division manager in the firm’s Dallas office.
Robert Denninger and Brad Dorsey, investment specialists in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was also secured and represented by Denninger and Dorsey.
“The seller’s top priorities were netting the most dollars and a high probability of close, while the buyer was looking to grow his portfolio of parks and to make improvements to the property. We were able to meet the goals of both parties and close amidst the Covid-19 pandemic. Both the seller and buyer were from California, but the buyer was excited to see the deal and drove over 20 hours to see the asset prior to going under contract to avoid getting on an airplane,” stated Dorsey.
The seller commented, “Brad Dorsey represented me in the sale of my Oasis Mobile Home and RV Park in Kingsville, TX. This park was unique in the fact that there were many moving parts which included lot rents, rental units, RV’s, and lease purchases. Brad was able to use his experience within the industry to navigate the inevitable challenges that came with closing this type of asset. He was responsive, professional, and honest. We originally went to market prior to the Covid-19 crisis and went under contract and closed in the heart of it! The buyer had previously closed with Brad and his team on other transactions and was able to meet all his deadlines and be ready for closing. I would recommend Brad and his team to anyone looking to sell a park”.
The buyer added, “We have closed several deals over the past few years with Brad and his team. This one proved especially challenging with the coronavirus pandemic going on during our entire closing process, but we knew we were in good hands with Brad. He was ultra-responsive, provided timely information and updates to all parties involved in the closing, and was able to make sure that this transaction closed on time despite everything going on in the world. Reliable communication, proactive solutions, and valuable industry insight gave us peace of mind throughout the entire deal process. We look forward to buying more properties from Brad Dorsey and team!”
Oasis Mobile Home and RV Park is located at 2415 E Santa Gertrudis St in Kingsville, Texas. The park has 144 total sites that consist of 69 mobile home lot rentals, 31 park-owned home rentals and 44 RV lot rentals.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.
