Hilton Cos. Acquires Trio of Manufactured Housing Properties in Fayetteville, NC

Marcus & Millichap recently orchestrated the sale of a three-property manufactured housing portfolio in the Fayetteville, N.C., region. Acting on behalf of the seller, a private investor, the company secured the buyer—an entity affiliated with Hilton Cos., as per Robeson County public records. The transaction amounted to $5 million, with a private lender issuing a $4.9 million acquisition loan maturing in 2029 for the buyer.

Portfolio Overview

The manufactured housing portfolio consists of three properties: Pine Log located at 4645 Pine Log Road in Lumberton, N.C., Pinewood Estates situated at 18 McAdam Road in Elizabethtown, N.C., and White Sands MHP at 3623 Locklear St. in Fayetteville. Spanning a collective 147 acres, the parks are strategically positioned within a 35-mile radius of each other, offering proximity to Fayetteville Regional Airport and convenient access to Charlotte and Raleigh, N.C. Combined, the three communities comprise 151 lots, 128 park-owned mobile homes, and house 61 tenants along the Southeast Interstate 95 corridor, featuring recently constructed mobile homes completed in 2019 or later.

Marketing and Transaction Management

Marcus & Millichap's team, including Senior Vice Presidents of Investments Glenn Esterson, Michael DiCillo, and Connor Outcalt, along with Executive Managing Directors Kyle Baskin and Jonathon McClellan, spearheaded the marketing endeavors for the transaction.