First Time Buyer Acquires All Age Community in Livingston, Montana
Livingston, Montana (November 17, 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 View Vista Village in Livingston, Montana. The community has 46 manufactured home sites and 30 apartment units.
ARA National Manufactured Housing Group’s Andrew Shih (based in Austin, TX), Todd Fletcher and Jon Shay (based in Denver, CO), represented the Seller, a private owner based in Colorado. The purchaser was a first time private buyer based in Montana that plans to continue having View Vista Village provide an attractive affordable housing option for the area.
“There was significant interest from in and out of state investors,” said Fletcher. “Since our platform brings both to the table, we were able to provide our client with some options,” added Fletcher.
“With our group’s combined experience brokering over $1B in deals, we were able to use that know-how of vetting investors to get comfortable with this first time buyer,” said Shih. “We also paid the Buyer’s broker, which was in our client’s best interest and helped him achieve his goal of selling this community to the best buyer.”
The apartment component was originally constructed in 1925 and the manufactured home community was added later. The property is an all age community with public utilities. The tenants of View Vista Village enjoy beautiful views as Livingston sits next to the Yellowstone River and is surrounded by three mountain ranges: the Crazy, Absaroka and Bridger mountains.
View Vista Village is conveniently located within walking distance of downtown Livingston, Montana, which is a more affordable place to live than nearby Bozeman, and is only an hour away from Yellowstone National park – home to Yellowstone Lake, the Old Faithful Geyser and the Yellowstone Caldera. Montana is known for its world class hunting and fly fishing; local businesses in Livingston lead guided elk and deer hunting trips, and the Yellowstone River, popular for its fly fishing, runs right through the center of town. Downtown Livingston offers entertainment and small town charm with many local cafes, restaurants and bars, and a growing art community. Accessing these amenities is easy, as the town’s infrastructure is bike and pedestrian friendly. In addition, the community is within walking distance of the local schools, two parks and the Livingston Golf Club. The unemployment rate in Montana is significantly lower than the national rate and is trending down. Major employers in the area include Livingston Healthcare, employing 250-499 people, Albertsons, employing 50-99 and the Livingston Enterprise, employing 20-49 – all of which are within ten minutes of the community.
To schedule an interview with an ARA executive 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.