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1 West Imperial Drive

Bedrock Communities Acquires Manufactured Home Community In Lakeland For $10M
SOLDManufactured Home

Bedrock Communities Acquires Manufactured Home Community In Lakeland For $10M

1 West Imperial Drive

$10,000,000

Building Size

Asset Type

Manufactured Home

Closing

May 27, 2024

AI

Imperial Manor, a 200-homesite manufactured housing community located at 1 West Imperial Drive in Lakeland, Fla., was recently acquired by Bedrock Communities for $10 million. Prudential Financial Inc. facilitated the transaction through a $9 million acquisition loan. The property features a 55-plus community with amenities such as a heated swimming pool, clubhouse, and recreational activities, making it a significant investment in the manufactured housing community sector in the Southeast.

Summary of transaction details:

  • Property Type: Manufactured Home
  • Transaction Amount: $10,000,000
  • Buyer: Paul Gojkovich - Bedrock Communities
  • Broker: HARRI5
  • Lender: Prudential Financial

Paul Gojkovich represented Bedrock Communities in the acquisition of Imperial Manor in Lakeland. HARRI5 served as the broker in the transaction, facilitating the deal between the buyer and the seller. Prudential Financial provided the necessary financing for the purchase, enabling Bedrock Communities to secure the manufactured housing community.

Players

Prudential Financial
Prudential FinancialLender

Lakeland Manufactured Home Market Snapshot

Boundary boundary · Manufactured Home · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93