California MHP News

Wed, Oct 28, 2020 – The new owner financed the acquisition of Eagle Creek and Cedar Hill Estates with a $5 million loan from Benefit Street Partners Realty Trust.

Capstone Manufactured Housing has brokered the $8 million sale of a 204-site manufactured housing portfolio located within the St. Louis MSA. A private investor sold the 107-site Eagle Creek in High Ridge, Mo., and the 97-site Cedar Hill Estates in Cedar Hill, Mo.

Public records show that BoaVida Communities received a $5 million loan from Benefit Street Partners Realty Trust to finance the acquisition. The debt is set to mature in 2023. The buyer has long-term ownership plans for the properties and intends to convert the remaining community-owned homes over to the residents.

Wed, Oct 28, 2020 – For nearly 40 years, Adelina Willis has called the Imperial Avalon Mobile Estates, a 55+ mobile home park in Carson, home.

Like many residents at the park, she’s found friends, community, and, over the years, an affordable way to homeownership. But last year, Willis saw her community in a new light, as she learned her mobile home park had been sold with future plans for a mixed-use development.

They just sent us this letter, and when I read it, oh my God,” she said. “I cried, and my heart really… I’m glad I did not collapse because it hurt so bad.

More than 400 seniors at the Imperial Avalon Mobile Estates, like Willis, are now worried about how they’ll be able to afford and find a new place to live by the park’s closure deadline of January 2022.

Thu, Oct 8, 2020 – A real estate company plans to redevelop a mobile home park in Carson and turn it into a mixed-use development, according to the city.

Dozens of senior citizens who live just down the street from Carson City Hall are voicing their anger and fear over the sale and proposed development of their mobile home park.

Last year, Imperial Avalon Mobile Estates on Avalon Boulevard was bought by Faring Capital – a real estate company – and according to the city, Faring Capital plans to redevelop the property, turning it into a mixed-use development.

The deal with Faring Capital is done. The developer and the city now have to work out the plans on how to ease the fears of the current residents and provide much needed housing units in Carson.

So here’s the timeline – the development of this new project isn't scheduled for at least a couple of years.

Fri, Sep 27, 2019 – On Fri, Sep 20, 2019, residents of Imperial Avalon Mobile Estates (225 Spaces, 55+) in Carson, California received a letter from their new park owners.

Dear Imperial Avalon Mobile Estates Residents: We are the new owners of Imperial Avalon Mobile Estates mobile home park. After careful consideration and internal deliberation, we will need to cease operating the property for mobile homes and begin the process of closing the Park. We intend to explore redeveloping and operating the property for a different use but the closure is not happening immediately; the process will take an estimated 18 to 24 months. Most importantly, our team will be dedicated to identifying and contributing to a suitable alternative living arrangement for you.

Online documents show the new owner(s) as Imperial Avalon LLC which lists both Jason Illoulian of Faring and Frank Zarabi of FAM Brands as Manager(s) or Member(s).

Faring is a progressive real estate firm based in West Hollywood. Our neighborhood-first approach creates beautiful structures that engage and contribute to their surroundings. Faring’s commitment to exceptional architecture and community-building guides our practice.

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Fri, Oct 16, 2020 – On Wednesday, September 30, 2020, three properties in Huntington Beach, California were purchased by Hometown America business entities; two mobile home parks and one RV park. We will update this with more information as it becomes available.