Capital Square 1031 Buys 10th Age-Restricted Florida MHC
December 2, 2021
The new owner intends to revamp the 220-site property.
Capital Square 1031 has acquired Twin Palms, a 55+ manufactured housing community in Lakeland, Fla. Public records listed the most recent owner as a private investor.
Located at 301 N. Galloway Road on roughly 33 acres, the property is roughly a mile from Highway 92 and less than 4 miles from Interstate 4, which provides direct access to both Tampa, Fla., and Orlando. The asset features 222 homesites and common-area amenities such as a heated pool, horseshoe and shuffleboard courts.
The acquisition marks the 10th age-restricted manufactured housing communities purchase in Florida for Capital Square 1031, according to Louis Rogers, founder & CEO. Recently, the company also purchased The Coach House, a 420-homesite community in Palmetto, Fla. In a prepared statement, Rogers said that these types of properties are among the most sought-after because of their scarcity, stability and low operating costs.
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