Senior mobile home park in Palm Beach sold for $49M

The Palm Lake Mobile Home Park near West Palm Beach was acquired for $49 million, and the buyer plans to keep it as a senior mobile home park for the foreseeable future. 

Palm Lake Cooperative, a cooperative formed by the 468 collective lot owners on the property at 7272 42nd Way North, sold the site to MHC Palm Lake LLC, an affiliate of MH Communities, the mobile home investment arm of Chicago-based Equity LifeStyle Properties.

The price equated to $104,701 per lot.

According to an agreement…