“YES! Communities (“YES!”), one of the nation’s largest owners and operators of manufactured home communities, today announced that it had acquired a portfolio of 24 manufactured home communities, comprising over 6,800 residential home sites in the states of Michigan, Indiana, Illinois and Texas, from affiliates of Four Leaf Properties,” said the company in a release to the Daily Business News.
“As a result of the acquisition, YES!’s portfolio now includes 213 manufactured home communities, comprising over 54,000 home sites, in 18 states. While terms of the acquisition were not disclosed, YES! announced that it has completed a total of approximately $450 million in acquisitions so far in 2018, and is continuing to seek opportunities across the nation.”
Yes! has been named the Manufactured Housing Institute (MHI) “Operator of the Year” award for the last 9 out of 10 years.
Just two months ago, Yes! announced “that Steven J. Schaub, the company’s Chief Operating Officer, has been promoted to the position of Chief Executive Officer, replacing Gary P. McDaniel. Mr. McDaniel will remain as a Senior Advisor to the Company. YES! further announced the promotion of Karen E. Hamilton to the position of Chief Operating Officer, replacing Mr. Schaub.”
In his statement about the Four Leaf acquisition, CEO Steven Schaub said, “This acquisition of family-oriented properties in solid Midwest markets fits exceptionally well into our portfolio and offers considerable upside potential through the leasing of presently vacant home sites. Consistent with our operating strategy, we intend to add new homes on open sites across the portfolio and invite new residents, both prospective homeowners and home renters, to enjoy the community and resident-focused YES! experience.”
COO Hamilton said, “We are proud of our YES! team members nationwide, who have once again been honored by their peers for the exceptional service they provide. Their commitment to resident satisfaction and true community building are what make YES! special and we congratulate them on another successful year.”
About Four Leaf Properties:
“In 2011, business partners Kevin Shaughnessy and Mike Callaghan — after selling their $12M data analytics/tech company — moved into the burgeoning manufactured home (MH) industry. Founding Four Leaf Properties, the team facilitates MH ownership, property management, home retailing, insurance, mortgage loans, community growth, and resident satisfaction. Their national portfolio has 7000+ sites,” per Business Wire.
The ranking of Yes! Communities in the National Community Council’s (NCC) top 50 operators as of the time of their report is found below. The move continues to the trend towards consolidation within the manufactured home communities sector, and the industry in general. ## (News, analysis, and commentary.)
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