TUCSON, AZ (August 28, 2024) – A 460-lot, Mountain Vista is a planned community of manufactured homes that welcomes young families as well as those enjoying retirement at 4545 South Mission Road in Tucson. It sold recently for $34 million ($73,913 per unit) on 80 acres.
An all-ages community, located off I-19 and Ajo Way. With a beautiful clubhouse equipped with a kitchen, lounge with a fireplace, fitness center, play area for children and a full-size pool for hot summer days. Mountain Vista’s lots are oversized to allow for a personal oasis. The family community is also pet-friendly.
It has over 450 extra-large sites to accommodate both single and double wide manufactured homes.
The buyer took title as Mountain Vista Titleholder, an affiliate of Green Courte Partners, LLC ("GCP"), a private equity real estate investment firm out of Chicago, focused on building industry-leading companies within niche real estate sectors, announced today that its fifth investment fund, Green Courte Real Estate Partners V, LLC, and its affiliates, acquired Mountain Vista, a 460-site all-age land-lease community located in Tucson, Arizona. The acquisition adds an Arizona property to GCP's national land-lease community portfolio and brings it to a total of 24 communities located in eight states, containing approximately 9,000 home sites. Mountain Vista will be managed by Windward Communities ("Windward"), GCP's wholly-owned land-lease community operating platform. Windward will implement an immediate and substantial capital improvement plan, including road paving, upgraded amenities, and refreshed landscaping and signage, to enhance the community and support leasing initiatives.
Regarding the transaction, Jordan Kerger, Managing Director at GCP, stated, "We are excited to establish a presence in Arizona with a community of this size and quality as we continue to seek opportunities to grow our land-lease community portfolio nationwide."
Tim Davis, GCP's counterparty in the transaction, added, "We brought this opportunity directly to Green Courte because of our long-term relationship and our confidence in their ability to execute based on the transactions we have successfully completed together in the past. Green Courte met our transaction timeframe and closed at the original terms despite continued volatility in the capital markets."
Mountain Vista Park is steps away from K-8 schools & High School bus stop. Five minutes to I-10 & I-19, Major shopping centers, Mountain Hiking Trails. 10-minutes to Walmart, Movie Theatres, Rodeo Park and Fairground. 15-minutes to Hospitals, San Javier Mission, Downtown, ASU campus. 20-minutes to Sonora Desert Museum, Pima Air Museum, Tucson Zoo & Reed Park and the Mexican border is under an hour.
The seller was an affiliate of the Pegasus Group of Darville, CA.
For more information, the community can be reached at 520.889.3315.
To learn more see RED Comp #11427.
