Barrington recently acquired a 132 unit manufactured housing community and 50 acres of prime development land in Brownsburg, Indiana, a rapidly growing western suburb of Indianapolis. Part of this property has been set aside for the completion of the Ronald Reagan Freeway, which will tie two nearby interstates together. The property will benefit due to its close proximity to one of the interstates and to two active exits off of the Reagan Expressway. Expressway construction is scheduled to be completed in 2015, and Barrington officials are working closely with the Mayor and Brownsburg leadership.
The mobile home park was acquired with low occupancy and has now been stabilized, thereby providing sound cash flow and significantly improved asset value.
