A manufactured homes firm and PGIM Real Estate bought a mobile home community with 377 homesites near Greenacres for $28.1 million.
Orem, Utah-based Havenpark Communities and Newark, New Jersey-based PGIM bought the Tavares Cove Mobile Home Park at 2315 Espana Real in unincorporated Palm Beach County, according to records and real estate database Vizzda. The property consists of the Tavares Cove I complex and the Tavares Cove II complex.
Lawrence M. Abramson and Sarajane Abramson Marell, as trustees of the Ruth C. Abramson Trust sold Tavares Cove I, according to records. Lawrence M. Abramson and Sarajane Abramson Marell in their individual capacity sold Tavares Cove II.
The land spans 54.1 acresthat includes a 2,400-square-foot clubhouse completed in 1970 and a 688-square-foot clubhouse completed in 1974, Vizzda records show.
Across South Florida, developers have scooped up mobile home communities, with plans to redevelop them. Generally, residents own their mobile home and rent the lot it sits on.
It’s unlikely that Havenpark will redevelop Tavares Cove because the firm is a manager of manufactured home communities. The firm, led by CEO Robbie Pratt, installed more than 4,000 affordable manufactured homes since 2019, according to its website.
PGIM is the asset management arm of financial services firm Prudential Financial
Elsewhere in South Florida, Seville General Partners wants to redevelop the Seville Mobile Home Park at 426 Northeast Fifth Street and 515 North Federal Highway in Hallandale Beach with a 750-unit multifamily project with 25,200 square feet of retail and 44,200 square feet of offices.
In December, Cade Capital paid $26.5 million for the Sunnyside Motel & Trailer Park at 6020 Southwest Eighth Street in West Miami, as well as an adjacent auto shop. At the time, Cade had no immediate redevelopment plans.
In El Portal, Adam Neumann’s Flow and Israeli firm Canada Global plan 2,380-plus apartments with commercial space and a school on the former trailer park site at 8500 Biscayne Boulevard.
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