Harbor Stone Advisor has brokered the sale of Perryman Mobile Home Park, a 33 lot, 3.67 acre manufactured home park in Aberdeen, MD. Harbor Stone Advisors President, Justin Verner, and Senior Advisor, Brooks Healy, served as exclusive advisor and agent to the seller, Trimont Real Estate Advisors, in the transaction.
The average pad rent at time of sale was $400. The park was lender owned at the time of sale and 55% of the lots were occupied. Recent capital improvements, including a new main waterline installed in 2019, the addition of water submeters to 18 lots, and a new camera system installed throughout the property.
Verner noted, “Mobile home parks, as an asset class, have held up quite favorably in the pandemic. The market reaction to this offering was robust. New ownership plans to undertake a stabilization strategy to occupy the vacant lots and improve the grounds. ”
Perryman Mobile Home Park is located in Aberdeen, Maryland, the largest municipality in Harford County. Just a 15 minute drive to the historic waterfront entertainment district of Havre de Grace, featuring quaint shops, restaurants, museums, a lighthouse, and a promenade overlooking the mouth of the Susquehanna River. Down the street from several warehouses and distribution centers, including a Saks Fifth Avenue Distribution Center, Sephora Distribution Center, Bob’s Discount Furniture warehouse, Rite Aid Distribution Center, Chlorox warehouse, Procter & Gamble, and Frito Lay. Close proximity to retail including a Walmart Supercenter, ALDI, Lidl, Home Depot, Target, and ShopRite. ?Aberdeen Proving Grounds, located a short driving distance away, is the largest employer in Harford County, with 22,797 employees.
About Harbor Stone Advisors:
Harbor Stone Advisors specializes in middle-market multifamily investment sales throughout the Mid-Atlantic. Advisory services include value opinions, asset dispositions and marketability analysis for private clients, owners, investors and financial organizations.? ?For additional information visit www.harborstoneadvisors.com.
