Denver-area mobile home community sells for $42M

The site of a mobile home community in Aurora has recently sold for $42 million. 

The Green Acres Community property, located at 1540 Billings St. in Aurora, sold for $42 million, according to Adams County property records. The 11.6-acre community is located in the northeast quadrant of Interstate 225 and West Colfax Ave., across the interstate from the Rocky Mountain Regional VA Medical Center. 

The new owner is an LLC associated with Orem, Utah-based Havenpark Communities. 

The seller of Green Acres Community was a California-based LLC affiliated with Resolute Investment Group, LLC. 

The community last sold in 2018 for $20.8 million. There are approximately 200 home sites at Green Acres, according to Google Maps. 

California-based Newport Pacific is the property manager for Green Acres, according to records and Newport’s website.

In addition to Colorado, Havenpark is active in Texas, Montana, Illinois, Michigan, Iowa, Nevada, Ohio, Kentucky, Oregon, Arizona, Minnesota, Utah and Florida, according to jobs listed on its website.

Havenpark offers its residents opportunities for renting or owning their homes and works with manufactured homebuilders including Clayton Homes, Champion Homes, Cavco Home Builders and Solitaire Homes, according to its website. 

Green Acres and Havenpark did not return requests for comment. 

Green Acres is not the only mobile home community to recently sell within the Denver metro area.

A park in Golden recently sold to its own residents in July for $7 million, according to Jefferson County property records.

Through The Golden Hills Community Cooperative Inc., residents of the mobile home park at 215 Cheyenne St. purchased the property from California-based Harmony Communities. According to reporting by Denver7, Harmony had raised the rent on the lots for homeowner residents, and they came together to purchase the property to have more control over the community and its budget. 

Last year, Colorado passed House Bill 22-1287, a new law aiming to create more protections for mobile home park residents.

Among the new requirements for mobile home park owners in the law is that they must give mobile home residents a right of first refusal to buy the property, and to give residents more time to make an offer on the property. If mobile park owners decide to change the use of the park and require residents to leave the property, the new law requires owners to compensate those residents to relocate. That amount could be as much as $7,500 for single-section homes or $10,000 for multisection homes, according to the new law. 

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