While MHProNews reported here April 1 that Universal Forest Products,Inc. (UFPI) acquired Upshur Forest Products, LLC in Gilmer, Texas, menafn.com says one of UFPI’s subsidiaries has purchased assets of High Level Components LLC in Locust, North Carolina, a deal that closed March 31, 2014. High Level will become part of …
The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that official statistics compiled by the Department of Housing and Urban Development (HUD) reveal production of HUD Code homes in February grew five percent over February, 2013, 4,361 homes over 4,151. Cumulative totals for 2014 hit 8,766 homes versus 8,393 …
Manufactured Housing Production Continued Growing in February Read More
Aetrium Incorporated has acquired all the assets of KBS Building Systems, Inc. of South Paris, Maine for $5 million cash, a $5.5 million six-month promissory note and the assumption of approximately $1.4 million debt, according to marketwatch.com. KBS manufactures and distributes modular housing units for residential and commercial applications. MHProNews …
New England Modular Builder Acquired by Aetrium Inc. Read More
The Dow Jones Industrial Average and the S&P closed just across the line in negative territory while the Nasdaq fell -0.91 percent, -38.72 points, falling to 4,237.74. The Dow edged down -0.45 points, -0. percent, to end at 16,572.55. The S&P dropped -2.13 points, -0.11 percent to finish the day …
Patrick Industries Falls 3.54 %; Dow and S&P mostly flat Read More
A survey of Portland, Oregon by the National Low Income Housing Foundation of Washington, D. C. revealed that a breadwinner working a minimum wage job in the Portland area would have to work 78 hours to be able to afford a market rate two bedroom apartment. More and more people …
Modular Apartments Provide much needed Affordable Housing Read More
Drew Industries, Inc. (NYSE:DW) Director and Chairman Leigh J. Abrams sold 5,000 shares of the company in a listing dated March 31, 2014, according to a filing with the Securities and Exchange Commission (SEC). Sold at an average price of $54.05 for a total of $270,250, leaving him with 61,236 …
The Mortgage Bankers Association (MBA) weekly survey of mortgage applications for the week ending March 28, 2014 reveal a drop of 1.2 percent, MHProNews has learned, while the Refinance Index fell three percent from the previous week. The refinance share of mortgage activity declined for the eighth consecutive week to …
Mortgage Market Sees Modest Movement in Loans and Apps Read More
Updating a post MHProNews last published May 27, 2013 regarding plans for a 55-unit micro modular apartment building in New York City, the project has begun, with M&T Bank putting up $10.3 million of the $16.6 million project, and the remainder from developer equity and a loan from the New …
MHProNews.com has learned the board of directors of manufactured housing community owner UMH Properties, Inc. (UMH) has declared a quarterly cash dividend of $0.18 per share of the company’s common stock effective June 16, 2014 to shareholders of record May 15, 2014. Additionally, on April 1 the board declared a …
UMH Properties Declares Dividends for Preferred and Common Stock Read More
According to seekingalpha.com, Berkshire Hathaway’s stock (BRK.A) (BRK.B), is undervalued by 15 percent as it continues to generate solid performance from its business units and its marketable securities. Having bought up many desirable investment opportunities in the marketplace, the company will not continue to garner the 19.8 percent returns it …
Updating a story MHProNews.com posted Nov. 18, 2013, regarding property specialist Ingenia Communities’ acquiring more manufactured housing communities (MHCs) in Australia, theage.com.au reports the company has doubled investors’ money. Ingenia’s head, Simon Owen, says, “We are targeting the lower to middle market, which is people reliant on the pension to …
Aussie Firm sees Big Returns from Manufactured Homes Read More
History tells us stocks have returned an average gain of 1.7 percent every April for the last 40 years, according to Schaeffer’s Investment Research, and this April has begun with a spring in its step, as CNNMoney tells MHProNews. The Dow Jones Industrial Average rose +74.95 points, +0.46 percent, to …
Modular workforce supplier Black Diamond Group Limited (TSX:BDI) will hold its annual meeting of shareholders on Thursday, May 8 at the Calgary, Alberta, Canada Hyatt Regency, according to dcnonl.com. Through its direct and indirect wholly-owned subsidiaries, Black Diamond rents and sells modular workforce housing, and provides associated support services to …
To expand the company’s business in east Texas and Louisiana, Universal Forest Products, Inc. (NASDAQ:UFPI) has acquired a 50 percent stake in Upshur Forest Products, LLC, which has sawmill facilities in Gilmer, Texas. “Among our strategic goals is to grow our industrial business, and we’re doing that in a steady …
Universal Forest Products Acquires Sawmill in Texas Read More
Following a story MHProNews.com last posted March 12, 2014 regarding possible settlement of a proposed modular development in Ridgefield, Connecticut that has seen its share of legal wrangling since Sept. 20, 2012, we have learned the project’s architect threw another “saw” (as in “monkey wrench”) into the works: The resubmitted …
Connecticut Modular Development Hits another Clench Read More
Market research company for the manufactured housing industry, JLT & Associates, after studying the Michigan manufactured home market from 2000 to 2014, has determined that occupancy rates for the 315 all age communities in the state has stabilized at 74 percent as of Feb. 2014, after a steady decline from …
Stocks crossed the finish line of March running as the three major indexes all advanced, the Dow Jones Industrial Average rising +134.6 point, +0.82 percent, to end the month at 16,457.66. The Nasdaq gained +43.23 points, +1.04 percent, to finish the month at 4,198.99, while the S&P added +14.72 points, …
Affiliated Managers Group Leads the Pack in Tracked Housing Stock Gains Read More
Updating a story MHProNews.com first posted May 7, 2012 regarding Honda Motor Company’s plans to build homes operating on a combination of gasoline, solar cells and a rechargeable battery, a showcase Honda Smart Home home is now finished following a grand opening March 25 at the University of California-Davis. Features …
Acropolis Management Services LLC (AMS) of Providence, Rhode Island has assumed management of Twin Coach Estates manufactured housing community in Lakeville, Massachusetts. In addition to this 67 homesite community, AMS recently received a contract to manage Edgeway Mobile Home Park in Middleboro, MA. As MHProNews.com reported here Aug. 24, 2012, …
Manufactured housing component supplier Lippert Components, Inc. (LCI) is moving its production facility that makes mattresses and furniture for the recreational vehicle (RV) division into a 366,000 square-foot building vacated last year by Cequent in Goshen, Indiana. Cequent makes towing and trailer parts, as well as electrical and cargo carrying …
