Hometown America Communities Acquires Point Dume Club Mobile Home Park In Malibu For $200M

The property asset involved in this transaction is a mobile home community known as Point Dume Club of Malibu. It spans 95.4 acres and features 297 sites. Located at 29500 Heathercliff Road in Malibu, California, it has been sold for a total transaction amount of $200,000,000. This property is unique as it sits on the last 95.4 acres of the original 13,330-acre Rancho Malibu and is recognized as the largest privately owned oceanfront parcel in the area.

Summary of transation details:

• Property Type: Mobile Home
• Transaction Amount: $200,000,000
• Address: 29500 Heathercliff Road
• Market: Malibu
• Acres: 95.4
• Buyer: Hometown America Communities
• Broker Representatives: Dustin B. Wilmer - Marcus & Millichap, Douglas Danny - Marcus & Millichap

This transaction was facilitated by Dustin B. Wilmer, who serves as the first vice president investments in Marcus & Millichap’s San Diego Del Mar Office, and Douglas Danny, the senior managing director investments at the same firm. They exclusively listed the property on behalf of the sellers, the direct descendants of the founders of Malibu, Frederick and May Rindge, and also procured the buyer.