GMF Group Acquires Lakeview Drive Multifamily Property In Deland For $3.9M

A 64-pads mobile home park located at 1250 Lakeview Drive in Deland, Florida has been sold for a price of $3,900,000. The property, which spans 10,000 square feet, is a multifamily asset. The sale price per unit is $60,938, and the price per square foot is $390. The park enjoys frontage with Lake Beresford and has a high occupancy rate, with 95% of the units leased and over 90% of the homes owned by tenants.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,900,000
• Units: 64
• Price per Unit: $60,938
• Square Footage: 10,000
• Price per Square Foot: $390

Gabe Monfried, representing GMF Group, acquired the property from Rory Williams of Realty Capital Investments. The deal was facilitated by Guillermo De Nicolas from Panther Capital Group.

Guillermo De Nicolas, the broker from Panther Capital Group, expressed his excitement about the sale and highlighted the park's unique features, such as its proximity to Lake Beresford and the high percentage of tenant-owned homes. In addition to mobile home parks, Panther Capital specializes in off-market deals in industrial, land, and mixed-use sectors. They are actively seeking similar investment opportunities and have a strong buyer network for each asset class. Furthermore, Panther Capital Group is currently hiring two additional brokers to expand their team.