A Michigan-based developer, owner, and operator of manufactured housing communities and RV parks, resorts, and marinas, bought 127 acres of land in Weld County from an affiliate for $4 million, a report said.
Sun ACQ LLC negotiated the deal for Coyote Creek North LLC’s land at Weld County Road 141/2 and Northrup Avenue in Fort Lupton. This is located 27 miles south of Greeley, and 28 miles east of Boulder.
Coyote Creek North shares an office with Fuller Real Estate. Fuller is its broker. Bob Leino is the registered agent of the LLC and is acting as a broker in the sale.
Sun ACQ is related to Sun Communities Inc. (NYSE : SUI), which is a real estate investment trust, that has seen significant growth in the past year.
According to its earnings release, the company said that results were due to “the impact of roaming remote workers” and vacationers.
Sun cited forecasts from the Elkhart-based RV Industry Association, Indiana, which predicted that recreational-vehicle shipment will reach approximately 576,000 this year, up to one-third from last year.
Sun spent $719million on 10 manufactured-housing communities and two RV resorts. Six marinas were also purchased by Sun in the second quarter.
Sun owned, controlled, or held stakes at 569 properties in its three types as of June 30. This included 153.300 sites that were developed and 41.300 wet slips, dry storage areas, and other locations in 39 states as well as Ontario, Canada. It had 426 communities, 143,000 sites and was a year ago.
Summaries did not track marinas in the last year. However, it bought Safe Harbor Marinas LLC from Dallas for $2 billion in October. This company owned or managed 107 of these properties. It began to include them in its summaries.
Over the past year, Colorado has been relatively quiet.
It had 10 properties and 3,440 RV annual or transient sites and 1,225 undeveloped. It was 99% occupied as of June’s end. This is an increase of 3,015 to 1,566 sites and 95% occupancy last year.
Willow Bend will be home to 449 sites. Clubhouse and swimming pool, basketball and pickleball courts, fire pits, gas, and charcoal barbecue areas, walking trails, and small parks for dogs are some of the amenities planned.
Fort Lupton’s final plat and PUD documents show 10 exterior elevations. Last month, the City Council approved this project on a 5-1 vote. Shannon Rhoda voted no. Fuller stated that construction will begin in September.
Sun’s Willow Bend does not relate to the 260-home Lennar Corp. development in Thornton.