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Meridian RV Resort in Apache Junction sells for $11.6M

Posted 12/29/20

NorthMarq’s national manufactured housing team of Don Vedeen, vice president; Jared Bosch, senior associate; and Chris Michl, senior associate sold the Meridian RV Resort on Dec. 14.

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business

Meridian RV Resort in Apache Junction sells for $11.6M

Posted

NorthMarq’s national manufactured housing team of Don Vedeen, vice president; Jared Bosch, senior associate; and Chris Michl, senior associate sold the Meridian RV Resort on Dec. 14.

The 252-site property is at 1901 S. Meridian Road in Apache Junction. NorthMarq represented both the buyer, Equity LifeStyle Properties Inc., and the seller, GlassRatner Advisory and Capital Group LLC, according to a release.

“Our team was retained to sell the asset out of receivership due to our experience in the space with large dispositions,” Mr. Vedeen said in the release. “The national marketing process generated more than 13 offers even during a global pandemic and ultimately being sold to a very qualified REIT,” he said of the real estate investment trust.

Meridian RV Resort is an age 55-plus senior community.

“The community has numerous resort-inspired amenities and hosts a variety of weekly activities for their tenants. This sense of community and the fact that the resort is minutes away from major economic drivers in Phoenix, Mesa, and Chandler, keeps guest coming back year after year," the release states.

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