Carefree Communities, Inc. announced Monday that it has acquired family-owned Vedder Communities 18 manufactured home land lease communities, with 4,530 sites in California. The Vedder acquisition, Carefree says, makes them the 5^th largest owner/operator of manufactured home and RV communities in the nation, boasting some 101 properties and more than 27,000 home sites.

Colleen Edwards, Carefree’s President told MHProNews, “The Vedder acquisition gives Carefree a very strong market presence in California, with communities stretching from San Juan Capistrano to Napa Valley. The Vedder Communities’ management philosophy of going above and beyond to provide outstanding customer service, safety, and top-notch facilities to its residents fits very well with Carefree’s core values.“

Carefree CEO David Napp added, “The Vedder portfolio is widely considered to be the best privately owned manufactured home community portfolio in California and one of the best in the country. This is an important strategic acquisition for Carefree, as we look to continue to grow our company in highly sought after retirement and vacation destinations in coastal markets.”

Three of the Vedder communities have won National Manufactured Home Community (MHC) of the Year awards from the Manufactured Housing Institute (MHI), including Alta Laguna in Rancho Cucamonga, California; Lemon Wood in Ventura, California; and Palos Verdes Shores in San Pedro, California. A dozen of the 18 Vedder communities are 55+ adult MHCs.

Scottsdale, Ariz.-based Carefree Communities, Inc. is a private Real Estate Investment Trust (REIT) sponsored by Centerbridge Partners, L.P. 

The purchase continues the trend of consolidation in MHCs by private and publicly held companies alike, including the giant 1.32 billion Sun Communities acquisition of American Land Lease last summer. ##

(Photo and Image credits: Carefree Communities)