Opportunity
Berkadia Manufactured Housing is pleased to present the Sooner State Portfolio. This offering features 274-sites across two well-located communities in Oklahoma. Park West MHP is a 154-site community in Stillwater, and High Chapparal is a 120-site community just outside of Oklahoma City. The portfolio occupancy is only 53%, showcasing significant upside in filling vacant sites. By increasing occupancy to 75%, rental income would grow by almost $500,000. Additionally, the portfolio features public utilities paid for by the residents through submetering. They are recapturing 66% of the expense, allowing for another opportunity to increase income by improving operations. This offering presents the opportunity to acquire two communities in Oklahoma with upside in filling vacancy and improving utility recapture.
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Investment Advisors:
Hunter LaRocca
Director
407.227.9643
Email me
Brian Hummell
Director
614.468.5773
Email me
Ian Hilpl
Managing Director 315.406.0900
Email me
Kevan Enger
Senior Managing Director 407.494.8541
Email me
CONTACT Info
BACK TO TOP
PHOTO GALLERY
GALLERY
HIGHLIGHTS
Terms of Use
OPPORTUNITY
Document Center
Privacy
Visit Doc Center
274 Sites | 2 COMMUNITIES | OKLAHOMA CITY & STILLWATER, OK
SOONER STATE MHC PORTFOLIO
INVESTMENT HIGHLIGHTS
PUBLIC UTILITIES AT PARK WEST
OPPortunity
Highlights
Gallery
Document Center
Terms of Use
Privacy
Broker of Record
MIKE MILLER
Managing Director
210.377.1535
Call for Offers: TUESDAY, NOVEMBER 14, 2023
Lakeside Village features minimal operational oversight and a nearly passive investment opportunity due to the the rare, coveted features of modern utility infrastructure, direct-billed public utilities, and longstanding stabilized occupancy at 98%. These attractive features can help lower the expense ratio, in turn generating a higher net operating income and several attractive operational characteristics including:
• Low overall R&M (no deferred maintenance, few park-owned homes)
• Low utilities R&M (PVC water/sewer, new 200amp underground electric)
• No utility recapture loss (all utilities direct-billed to residents)
• Historically managed by limited off-site staff
Low Percentage Of Park Owned Homes
IDEALLY LOCATED IN STILLWATER & OKLAHOMA CITY
Upside In Filling Vacancy
ORLANDO OFFICE
300 South Orange
Avenue Suite 1500
Orlando, FL 32801
Judy MacManus
Senior Director
404.654.2074
Email me
Brian Brockman
BROKER OF RECORD
