Pittsfield, MA — Teton Management Corporation sold a 134-site mobile home community located in Conklin, NY on June 29th after acquiring the property in September 29th, 2017.
“This transaction was the result of acquiring an under-valued asset, strategic deployment of $290,000 in capital improvements, and very professional management,” said George C. Whaling, Teton President/CEO.
“Teton specializes in acquiring under-valued assets and quickly adding value through capital improvement & tight management practices,” said Jim Fletcher, Director of Finance at Teton. “Fountain Bleau is great example of how many properties in this asset class are undervalued, based on poor knowledge of the space. By strategically deploying capital into much needed improvements, Teton was able to completely reinvent the community and sell at an 89% ROE in less than 1 year.”
For more information, please contact:
Erin O’Brien, Marketing