Inland Real Estate Investment Corp.’s private real estate arm, Inland Venture Partners, has acquired Leisure Valley, a manufactured housing community totaling 125 RV sites in Casa Grande, Ariz. The property changed hands for $7 million, according to Pinal County public records. The investment was made through IVP’s MH Ventures Fund II, a $160 million manufactured housing offering focused on the acquisition and management of mobile communities and RV communities.
Leisure Valley is a four-star mobile home resort at 9985 N. Pinal Ave., that includes 80 park models. Common-area amenities encompass a clubhouse, a swimming pool, a golf course, bocce ball area, laundry and shower facilities, as well as dog parks and a barbecue area.
“Leisure Valley is an attractive place to live and visit due to its great location and many amenities,” Rod Curtis, president of IVP, told Multi-Housing News. “We intend to continue investing in the property and provide excellent services to our residents and guests.”
The pet-friendly, 55-plus community spans across more than 10 acres, close to Interstate 10, and 25 miles from Chandler, Ariz.. Downtown Phoenix is some 42 miles away.
Earlier MHC investments in Arizona
IVP is not the only investor expanding its manufactured housing footprint in Arizona. In 2022, an entity related to the William Corrigan family picked up a 1,230-homesite mobile home community in Yuma, Ariz., for $80 million. Also last year, Cobblestone Properties purchased a 460-homesite asset in the same town. Both deals were brokered by HARRI5.
