BoaVida Sees Gold in the Silver State, Acquires Six Nevada Properties in One Transaction
The BoaVida Group, owner and operator of mobile home and RV communities across the country, has acquired three properties in Las Vegas and three in Winnemucca in a single transaction. This continues a pattern of growth that, in 2019, added more than $150 million of properties to the $300 million the company already owns and operates.
In Las Vegas, BoaVida purchased the Arrow Palms, La Villa and Las Palmas mobile home parks, adding 214 spaces to its portfolio at a cost of just under $11 million.
“These are ‘all-age’ communities, which means we are providing a significant amount of workforce housing that is within 20 minutes of downtown Las Vegas,” said BoaVida’s Eli Weiner.
In Winnemucca, the company acquired the 100-space Carriage Court mobile home park along with two apartment complexes in a transaction valued at $6 million.
BoaVida already owns and operates the Silver State mobile home park in Carson City and Desert mobile home park in Las Vegas, each with 80 spaces.
“We were very busy finding good opportunities in 2019 and are ramping up our operations to continue that focus in 2020,” said Weiner.
Weiner created an investment fund last year to facilitate the company’s growth. The company acquired 34 communities totaling more than 3,200 spaces from California to Rhode Island.
“The fund has allowed us to move quickly, acquiring properties with cash and then investing in capital improvements to increase the value for residents and investors,” said Weiner. “We have the infrastructure in place for this pace of activity and are hiring teams in property management and administration to work with our existing portfolio and the additional properties we will be managing.”
The BoaVida Group includes BoaVida Communities, BoaVida Homes and BoaVida RV Parks and Resorts. For more information on The BoaVida Group, visit https://theboavidagroup.com/
Ian B. Cornell
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