(BRK.A), (BRK.B)
Berkadia, Berkshire Hathaway’s joint venture with Jefferies Financial Group, has announced the sale of the Killeen-Corpus Christi Portfolio, a 544-site manufactured housing portfolio in Killeen, Corpus Christi, and Huntsville, Texas markets.
Managing Director Ian Hilpl, Senior Managing Director Kevan Enger, and Directors Brian Hummell and Hunter LaRocca of Berkadia Manufactured Housing led the transaction on behalf of the seller.
The Kileen-Corpus Christi Portfolio consists of four manufactured housing communities in Central and East Texas consisting of the following properties:
• Gateway MHC is a 259-site community located at 1545 N Lexington Blvd, Corpus Christi, Texas.
• Clear Creek is a 126-site community located at 6000 S Clear Creek Road, Killeen, Texas.
• Cimarron Park Estates is a 98-site community located at 1400 E Ave H 74B, Nolanville, Texas.
• Hidden Valley is a 61-site community located at 3307 Powell Road, Huntsville, Texas.
“The portfolio was an attractive acquisition for the buyer as Texas is a primary target market and this offered them immediate scale across multiple well performing MSA’s,” said Hilpl, the lead broker on the sale. “The portfolio offered multiple value-add opportunities to increase performance across the four communities.”
© 2024 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.