MANATEE -- Two trailer parks in Manatee County sold for a combined $13 million within days of each other.
DeSoto Mobile Estates, 1219 51st Ave., sold to Palm Cove MHC LLC, for $8 million on Jan. 14, according to property records. The seller was Sarasota real estate investor George C Perreault and his George C Perreault Living Trust, which also includes Michael Caldwell and Dennis J. McGillicuddy, according to the deed.
The 32-acre property includes 178 units and was valued by the Manatee County Property Appraiser at $3.6 million in 2014. Perreault acquired the property in 1996 for $1.85 million, according to the property appraiser.
The new owners, Palm Cove MHC, are based in Skokie, Ill., and are part of a mobile home property management company in Chicago called Lakeshore Management, according to business records filed with the state of Florida.
Palm Cove used a $7.4 million mortgage with General Electric Capital Corp. to finance the deal, according to documents filed with the Manatee County clerk.
Sunset Village Adult Mobile Home Community, 3715 14th St. W., also sold for $5.8 million to a Palmetto company on Jan. 12.
The 1.8-acre, 250-unit property was owned by a Stuart company, Sunset Village Park LLC, and sold to Sunset MHP LLC and McSunset MHP LLC, registered to Michael Hickmann of Palmetto and Cindy McFerrin of St. Petersburg, respectively.
The companies, along with Bradley Dresser of Stuart, used a $3.1 million mortgage with Wells Fargo Bank to finance the deal, according to documents filed with the Manatee County clerk.
Charles Schelle, Herald business reporter, can be reached at 941-745-7095. Follow him on Twitter@ImYourChuck.