"It's hard to find deals that make any sense these days. Weliked the price and the cap rate," Marvin Sampson, a principal withScottsdale-based Superstition Lookout Delaware LLC, tellsGlobeSt.com. "We're kind of hoping we're picking it up at thebottom of the downturn of the market. We think there's somepotential there."

With escrow lasting 65 days, Sampson met Kearney, NB-basedEastlawn LLC's asking price for the property and has already made$100,000 of road improvements. Additional renovations are slatedfor the clubhouse. Located at 500 N. Main St., Copper Country wasbuilt in 1972, with the self-storage portion added in the early1980s and completed in 1998.

Sampson obtained a seven-year, $2.2-million loan from GMACCommercial Mortgage Corp. of Horsham, PA, at a fixed rate of 5.2%."Mobile home parks are very secure investments. You can usuallykeep them well-occupied once you've filled them up," says DamonReed, vice president with GMAC in Birmingham, AL. "Most storagedeals are pretty full." He says the buyer has a reputation as agood operator of similar product in the Phoenix metro.