Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Oak Forest Mobile Home Park, a 77-unit manufactured homes community in Beaumont, Texas.

“There is an ongoing FEMA contract within the asset that creates substantial short-term extra high cash-flow, but also concern within the buyer pool regarding the implications of the contract ending,” said Robert Denninger, first vice president investments. “We were able to find an experienced local buyer who coordinated directly with FEMA, the seller, and myself to work towards a successful and painless closing.”

Denninger, had the exclusive listing to market the property on behalf of the seller, a private investor, and procured the buyer, also a private investor.

“Recently, I sold a property and utilized Robert’s services, expert knowledge of the industry and connections to active buyers and sellers,” said the seller of Oak Forest Mobile Home Park.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.