Adams of Capstone sells 31-site mobile home park for $2.575 million

Greeley, CO Capstone has closed the sale at 817 26^th Ave., a 31-site mobile home park, for the sale price of $2.575 million. Benton Adams of Capstone brokered the transaction.

The buyer went under contract with the intention to acquire the asset free and clear through traditional lending. In the middle of the transaction this avenue became no longer feasible due to the asset and current interest rate environment. Capstone was able to transition the acquisition into a seller financing with favorable terms.

817 26^th Ave. is located on the counter of 10^th St. and 26^th Ave. with access to highway 34 and highway 85 for commuting and transporation options.

The buyer plans to stabilize the asset and hold for long-term cash flow.