Eugene W. Landy, Chairman of the Board of UMH Properties, Inc. (UMH) announced the board of directors declared a quarterly dividend of $0.18 per share on the company’s common stock payable Dec. 17, 2012 to shareholders as of Nov. 15, 2012. Additionally, on the company’s 8.25% Series A Preferred Stock, …
Widespread environmental management problems at 73 manufactured home communities led to the imposition of a $1,339,000 penalty for violating state and federal clean water and waste treatment statutes. All the communities are connected to Frank Perano of Lehigh Valley, Pennsylvania, who has signed a consent decree to pay, pending court …
Real Estate Investment Trust (REIT) Sun Communities, Inc. has declared a quarterly dividend of $0.63 a share for the third quarter, payable Oct. 19, 2012 to shareholders of record Oct. 10, 2012. The company has 29.7 million shares outstanding, according to Yahoo!Finance. Based in Southfield, Mich., MHProNews understands Sun owns …
Marcus & Millichap’s Michael Glass says for commercial real estate investors seeking to diversify their portfolio, the stabilizing housing market and resurgence in financing can make manufactured housing communities a good investment. In particular he notes age-restricted MHCs in prime markets are not increasing in number, leading to competition among …
According to smmirror, the city of Santa Monica, California loaned the Mountain View Mobile Home Inn Residents Association $272,000 in 1996 to convert the property to a co-op owned by the residents. When the plan was determined to not be feasible, City Hall purchased the property in 2000 and maintained …
Commissioners in Mooresville, North Carolina, just north of Charlotte, seeking to reduce the number of “non-conforming” manufactured homes in town, passed an ordinance preventing the replacement siting of manufactured housing in areas not specifically zoned for MH. If the owner wants to upgrade or just replace an existing home, it …
The register-guard reports from the Springfield City Council in Oregon, city officials are trying to determine their obligation for the residents of the 441 occupied manufactured homes in the city’s eight MHCs if development uproots them. The state legislature passed new rules in 2007 requiring MHC owners to give residents …
Following up on the race for Delaware’s 37th District State Representative seat between incumbent Briggs King and Beth McGinn, CapeGazette VillageSoup reports MHC resident McGinn chides Ms. King for saying she has been working on manufactured housing issues with homeowners associations as well as members of the legislature and government …
The Daily Commercial reports from Leesburg, Florida Pat’s Sales has been providing the aftermarket manufactured home industry with discontinued, salvaged, and overstocked materials for 35 years. The 60,000 square-foot building contains a variety of flooring, cabinetry, plumbing, doors, windows, electrical, siding, moldings and much more, serving the myriad of manufactured …
The heraldtribune reports from Florida the recent sale of several MHCs for $60,000 plus per home site has unleashed the reassessment of some of the communities, driving up their taxes. Equity Lifestyle Properties, Inc. purchased Lake Village in Nokomis, Fla., just south of Sarasota for $23.7 million, and is now …
prairiebizmag reports from Minot, North Dakota, this city hard hit by the disastrous flooding of the Souris River in late June 2011 will now see the beginning of 3,000 modular residential units rise on 323 acres. Champion Home Builders, Inc., in partnership with Genco Bakken Development Group LLC, has broken …
Following-up on a story we published Aug. 7, 2012 regarding measures passed by the Marion, North Carolina City Council July 17 to regulate placement and structural standards of new manufactured housing, mcdowellnews reports the council voted unanimously to repeal the new rules. Local real estate agent Mark Shuman pointed out …
napavalleyregister reports 80 people, representing a three county area just north of San Francisco, heard five speakers at the Golden State Manufactured-Home Owners League (GSMOL) address issues of rent control, recruitment, civil law and fair housing. Two attorneys who specialize in construction and property law discussed responsibilities landlords have to …
menafn says MHC owner Equity LifeStyle Properties, Inc. (ELS) declares all shareholders of its 8.034% series A cumulative redeemable perpetual preferred stock will receive a redemption notice entitling them to receive $25 per share for outstanding shares as of Oct. 18, 2012. In addition, shareholders will receive 0.094846 in unpaid …
heraldonline tells MHProNews the Manufactured Housing Association for Regulatory Reform (MHARR) issued a bi-partisan appeal to President Obama and Republican presidential candidate Mitt Romney to assist in revitalizing manufactured housing as a form of affordable homeownership for millions of Americans of modest means to achieve the dream of owning their …
Prairiebizmag reports Red Lake Falls, Minnesota based Homark Homes is building two dormitory-style man camps for a Goldcorp, Inc. gold mine near Musselwhite, Ontario, Canada. Built to house 76 workers, each building consists of 16 modular units connected to form a two-story residence hall 28 feet wide by 282 feet …
Palmbeachpost reports from Jupiter, Florida that the town council will consider a proposal to close Whitehaven Seniors Adult Park and build multi-family rental units and a shopping center on the 29 acres. The developer, Jupiter-based FLF 1030 LLC, would be required to pay the town $336,000 toward affordable housing programs …
Multi-family Units, Shopping Center to Replace MHC Read More
dailycamera reports from Lafayette, Colorado just north of Denver residents of Arbordale Acres MHC are upset over new clauses inserted in their leases this summer that prevents them from subletting their homes. Additionally, a home is considered abandoned if it is not sold or occupied by an approved tenant within …
therealdeal informs MHProNews that Sam Zell, CEO of Equity Lifestyle Properties, Inc. has taken the helm of Equity International in the wake of the sudden departure of its CEO and co-founder Gary Garrabrandt, and chief strategic officer Thomas McDonald. Equity International primarily invests in or buys existing real estate companies …
Sudden Resignations Put Zell Back in Driver’s Seat Read More
Benzinga says UMH Properties, Inc. has announced it has acquired two manufactured housing communities in Ohio for $5.9 million, bringing their ownership of MHCs to 55 communities comprised of approximately 10,400 homesites. The 280 sites, situated on 62 acres, average 89 percent occupancy. UMH President Samuel A. Landy says the …
