Manufactured home operator Havenpark Communities has purchased Chaska’s Brandondale Chaska Mobile Home Park for $40 million.
The sale, which went through on April 28, encompasses all the land at 1 Kelly Road. Divisional Vice President Sean King said work will shortly ensue.
“We will not be redeveloping the community. We’ll be investing back into the community and I’d say within the first 12 months we’ll probably reinvest around $1 million in capital improvements,” King said.
According to electronic real estate value forms, Havenpark paid higher than market value because they “are aggressively trying to enter the market, build a presence, and build scale.” The down payment was $13.3 million and does not include money for new construction.
King said the next year, barring weather, will probably bring road repairs, amenity replacements or upgrades, and infrastructure changes.
“I can tell you that we have communities in the surrounding areas, so it was a good fit for the market we’re already in,” King said.