Marcus & Millichap broker record-breaking sale of manufactured homes in Malibu

Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Point Dume Club of Malibu, a 297-site, five-star manufactured home community on 95.4 acres of oceanfront property in Malibu, California.

“Point Dume Club of Malibu is the first property to hit the market since we purchased the property in 1892 and has sold for the highest price per lot ever achieved for a manufactured home community,” said Dustin B. Wilmer, first vice president of investments in Marcus & Millichap’s San Diego Del Mar office. “The property sits on the final 95.4 acres of the original 13,330-acre Rancho Malibu and is the largest private oceanfront property in Malibu.” Wilmer and Douglas Danny, senior managing director of investments at Marcus & Millichap, have offered the property exclusively on behalf of the sellers, the direct descendants of Malibu’s founders, Frederick and May Rindge. Wilmer and Danny also brokered the buyer.