I was going to create my own press release but the Steamboat Springs newspaper beat me to it (see below). TMO represented the buyer KTH Enterprises LLC who purchased the trailer park as a long term income producing investment. The park produces an annual yield of about 8.5%.
Five months after it was listed for sale for $3.2 million, the Sleepy Bear Mobile Home Park on Steamboat Springs’ far west side has sold to a Carbondale couple for $2.6 million. Cheri Chartier, a representative of buyers Tom and Karen Hill, said their intent is to continue operating Sleepy Bear as a mobile home park.
The 6.6-acre, 54-lot park is immediately west of Ski Town Campground and directly across from what would have been the primary entrance to the Steamboat 700 development had Steamboat voters not rejected it in March 2010.