Buyer Acquires a 130 Site All Age Community in Ponca City, Oklahoma
Ponca City, Oklahoma (January 27, 2014) — Atlanta headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, is pleased to announce the sale of Meadowbrook Village Manufactured Home Community in Ponca City, Oklahoma.
ARA National Manufactured Housing Group’s Andrew Shih and Brian Vita (based in Austin, TX) and Todd Fletcher (based in Denver, CO), represented the Seller in the transaction. Shih, Vita, and Fletcher executed the sale of this distressed asset out of receivership. The property was eventually purchased in an all cash transaction with a quick close by an opportunistic local owner and operator.
said Vita “We were able to find a knowledgeable, well capitalized, local investor who understood the market and the tremendous management turnaround potential of the community.”
Built in the 1970’s, Meadowbrook Village is a 130 site, all age community with potential to expand up to 161 sites by finishing utility connections or repositioning homes. The community is serviced by municipal utilities, has paved streets and off street parking, and includes an onsite office, a laundry room, and a storm shelter.
Meadowbrook Village is conveniently located on the North side of Ponca City, OK, on N. Union St., which cuts through the center of the city. Additionally, it is located within two hours of both Oklahoma City and Tulsa, and is in close proximity to several of Ponca City’s major employers such as a ConocoPhillips refinery, a Wal-Mart Super Center, and Dorada Poultry. The residents of Meadowbrook Village also enjoy easy access to several retail and restaurant destinations as well as numerous recreational activities offered by the 26 beautiful parks located within the city.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 404.990.4900 or Amy Morris at amorris@ARAusa.com, 404.990.4902; locally, Allison Blount at email@example.com, 512.637.1229.