Document text
Table Rock Mobile Home Estates mobile home park has been acquired by a Southern California investment company. Table Rock MHC paid $4.3 million to long-time owner Rodney Howard for the 9.7-acre, 75-unit mobile home park on Downing Road. The community between Central Point and White City was established in the mid-1970s. Irvine-based Investment Property Group, which owns and operates 70 manufactured home parks throughout the West, according to its LinkedIn page, will manage the park. It has more than two dozen affiliates throughout Oregon. "IPG is the management company, not the ownership entity for Table Rock," IPG President Amber Monte wrote in an email. Brian L. Fitterer of West Hollywood, California, is principal owner of Investment Property Group, whose territory takes in Arizona, California, Idaho, Oregon, Utah and Washington, with a staff of more than 200. Fitterer is listed as the manager for Table Rock MHC LLC, on the Oregon Secretary of State website. Efforts to reach Fitterer and Howard were unsuccessful. Investment Property Group began managing Southern Oregon communities acquired by its investors in the 1990s. Among its managed properties listed on its website are: Butte Crest Park, a 118-space community, acquired for $5.9 million in 2011; Meadow View Estates, a 108-space park on 17.6 acres in west Medford, purchased for $1.2 million in 1998; Bear Lake Mobile Estates, a 39.4-acre, 210-space senior community in Phoenix, bought for $14.2 million in 2015; Park Views Estates, an 80-space senior park in Rogue River, purchased for $2.5 million in 1999; and Cascade Village, a 10.3-acre, 100-space park acquired for $3.2 million in 2007. Monte declined to disclose annual revenue figures for the closely held firm. — Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness, on Facebook at www.facebook.com/greg.stiles.31.