Cherry Hill-based Vantage Commercial on Thursday said it successfully sold a 24-pad mobile home park in Hainesport. The mobile home park was purchased last year by one of Vantage Commercial Executive Director Ken Richardson’s investor clients. As the demand for parks continues to increase, the investors listed the park with Vantage to sell.
Richardson, along with Corinne Giletto, Vantage’s director of client services, represented both the buyer and seller in this agreement, allowing the asset to efficiently change ownership. In just a few weeks from acquiring the listing, Richardson identified the buyer, negotiated the transaction and, ultimately, sold the asset.
“The park will be well-positioned for success and future growth with its new ownership. The buyer is an operator of several parks in New Jersey. They plan on making major improvements to the community to modernize the infrastructure and possibly add pad sites,” Richardson said.
“Ken has once again represented us very well; he makes sure communication is efficient between all parties. This transaction was seamless and closed without issue,” Tilak Singh, the seller, stated.