OUR NEW OWNER (s) SPEAKS

by

Liberty park owner plans upgrades
Bought site at auction
April 17, 2012
By CHRISTOPHER BOBBY Tribune Chronicle (cbobby@tribtoday.com) , Tribune Chronicle | TribToday.com

LIBERTY – An Akron businessman who lives in Stow and who bought the Vintage Village Estates mobile home park here says he plans on making improvements to the 43-acre piece of property.
”Actions always speak louder than words, but we always plan on making improvements. That’s our goal,” said Vincent Naska, who bought the park for nearly $1 million at an auction March 29.
Naska and new owners at three nearby mobile home parks were named in Trumbull County court pleadings filed last week and developing out of a foreclosure case.
Naska said he didn’t want to release too many details until after he closes on the purchase of the park and after the court formally approves the sale. He said he represents others in terms of investors and they haven’t selected a name yet for a management company that would run the park.
The new owner said he has experience operating other mobile home parks in Ohio. Without naming the investors or the parks, Naska said the other properties were in similar situations, with considerable vacancies and in need of capital improvements.
”There are a lot of good people in that park now, and we plan to keep them and fix up the place. There are some hoops to jump through, and I don’t want to set any specific time frame,” Naska said.
One of the major considerations at Vintage Village is a tie-in to sewer lines along Belmont Avenue. But he said some other things as simple as landscaping are also important to him.
”I want it to be the kind of place your mother could live in,” Naska said.
Chartwell Group out of Cleveland auctioned off Vintage Village along with three other parks in a package along with other properties.
A buyer from Las Vegas outbid others for Stateline Mobile Home Park in Mahoning County. A woman from Canada bought Butler Mobile Home Park in Columbiana County, and a couple affiliated with a power equipment company in East Liverpool bought Country Squire in Stark County.
The auction was held after a $1.2 million deal to sell off all four properties to one company fell through.
Park owners Ronald and Marsha Holley of Summit County filed for Chapter 11 bankruptcy, which would have allowed them to reorganize and stay in control of the company, in April 2010. But in January of 2011, the Akron-based court agreed to change the filing to Chapter 7, which allowed the business to liquidate its assets to pay creditors.
The Holleys were undergoing the foreclosure proceedings on the Liberty park that features 229 lots for homes, including 107 occupied homes and 104 unoccupied homes. Some 18 of the lots have nothing on them.
cbobby@tribtoday.com

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