Northmarq Completes $25.5-Million Sale of 300-Pad Manufactured Home Community in Duluth, MN

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Jul 07, 2026, 08:41 ET

Northmarq Also Delivers $14.535 Million in Financing Toward Acquisition

BALTIMORE, July 7, 2026 /PRNewswire/ -- Northmarq's Mid-Atlantic Investment Sales team has completed the $25.5-million sale of Vintage Acres, a 300-pad manufactured housing community located at 501 West Stowe Street in Duluth, MN. The property also includes two apartments and 14 storage units.

The mobile home park, built in 1985, is more than 97-percent occupied and its homes are almost exclusively tenant-owned.

Anthony Pino, who is based in Baltimore, serves as senior associate with Northmarq's Mid-Atlantic Investment Sales team. Mr. Pino recently worked with senior vice president Ari Azarbarzin to arrange the $25.5-million sale of Vintage Acres, a 300-pad manufactured housing community in Duluth, MN.

Built in 1985, Vintage Acres is a 300-pad manufactured housing community in Duluth, MN. The property was recently sold by Duluth-based GHI Investments through a transaction arranged by Anthony Pino and Ari Azarbarzin of Northmarq's Mid-Atlantic Sales Team. Vintage Acres was acquired by Phoenix-based Legacy Communities.

Northmarq represented the seller in the transaction, Duluth-based GHI Investments. The buyer was Legacy Communities, which is based in Phoenix, AZ. Northmarq's Investment Sales team was led by Senior Vice President Ari Azarbarzin and Senior Associate Anthony Pino.

In addition to arranging the sale, Northmarq's Debt & Equity unit arranged $14.435 million in financing for the new owner through a Freddie Mac loan. The mortgage brokers were Dan Trebil, who serves as Executive Vice President/Regional Managing Director, and Logan McCarthy, a Vice President with Northmarq.

Occupying a 93.59-acre parcel, Vintage Acres is a four-star community with amenities including a playground, a community center, a basketball court, and an office.

"Vintage Acres is one of the highest-quality manufactured home parks in the state," said Mr. Pino. "Following a robust and competitive bidding process, the new owners were attracted by the rare opportunity to attain significant scale in the growing Duluth market.

"The property has a long history of providing the greater Duluth region with highly desirable, affordable housing by being continuously owned and operated by the same families for more than 40 years. We're confident that the new owners will build upon the legacy of the previous owners and serve as excellent stewards for the community."

As part of the sales process, Northmarq procured a lengthy bid sheet and was able to push pricing by arranging multiple best and final rounds

Northmarq's investment Sales unit has recently been registering a major impact on Duluth's residential scene. In December, the team brokered the sale of nearby Zenith Terrace, a 500-lot manufactured housing community in the city.

Duluth, the county seat of St. Louis County, is Minnesota's fourth-largest city and is home to the state's second-largest economy. It is the largest American city on the shores of Lake Superior.

About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.

Media contact:

Steve Vitoff
Northmarq
516 652 0785
[email protected]

SOURCE Northmarq