California firm pays $16.2M for Fort Collins mobile home park

FORT COLLINS — Sacramento, Calif.-based FolletUSA has acquired the Sunflower Adult Active Community in Fort Collins for $16.2 million, its second acquisition this year of an “upscale” modular home park in Northern Colorado.

In August, FolletUSA acquired the Sunset Mobile Home Park in Loveland for $17.7 million.

FolletUSA bought Sunflower at 4517 E. Mulberry St. from Paul Gallenstein’s American Retirement Properties LLC. Gallenstein developed the 37.6-acre park in 2001. It has 188 homes, a manager’s house, one vacant lot and a clubhouse for tenants, said Casey Kelly, FolletUSA’s chief operating officer and chief financial officer.

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FolletUSA, using the entity The Mesa Mobile Home Park LLC, purchased the land, infrastructure, streets and common areas. It leases space to individuals 55 and older who own their homes in the park. The company owns 16 of these type of communities plus several self-storage facilities in 10 states.