Killam Properties, Inc. reports for the three months ended March 31, 2013 property revenue increased 1.7 percent from $32.7 million to $33.2 million over the same period of 2012, while net rental income fell 3.6 percent, from $18.8 million in Q1 2012 to $18.1 million for 2013. Funds from operations …
According to thepublicopinion from Watertown, South Dakota, a public hearing has been set for May 20, 2013 regarding Pelican Plaza LLC’s application for a conditional use permit for its existing manufactured home community. The public is invited to attend or send written comments to the Codington County zoning officer. As …
As follow-up to a post MHProNews published April 8, 2013 about Lippert Components, Inc. requesting a tax break for expanding its operations at three plants in Goshen, Ind., according to the Goshen News approval came from the Goshen City Council May 7 for tax phase-ins. Component supplier to the manufactured …
The industryandtechnologytimes informs MHProNews Japanese builder Kase Sogo will partner with S. Korea’s G. S. Architects & Associates to establish modular home builder Kase Co. in Korea. Model homes will be built near temples in Seoul and Gyeonggi Province, although customization is also available. A Kase Co. official said, “Given …
From sys-con MHProNews has learned manufactured housing community owner UMH Properties, Inc. reports funds from operations (FFO) came within $222,000 of doubling from the first quarter 2012 to Q1 2013, from $2,738,000 to $5,254,000, from $0.18 a diluted share in Q1 of last year to $0.30 per diluted share Q1 …
From down under MHProNews has learned Australian companies Elenberger Fraser and Unitised Building have developed a residential, modular building system suitable for a skyscraper as well as a stylish single-family home. According to gizmag.com, in order to eliminate waste, the dimensions of the prefab building blocks, termed Klik, take into …
Robeson County, North Carolina manufactured home dealer McMillan Properties has been banned from doing business by Attorney General Roy Cooper for selling substandard homes and homes that were never delivered. According to what carolinalive tells MHProNews, 52 consumers in the Robeson County area have filed complaints against Bradley and Sherry …
Company Banned from Dealing in Factory-built Homes Read More
NASDAQ says Louisiana Pacific Industries, Inc. (LPX) reports in the first quarter of 2013 adjusted earnings per share of $0.41 from continuing operations, in line with Zacks Consensus Estimate, and a strong turnaround from the six cent loss per share for the same period in 2012. Net sales for Q1 …
Louisiana Pacific Industries Sales Rise 48.6% over Q1 2012 Read More
According to Easier.com, the continuing housing shortage in western North Dakota due to the Bakken Formation oil boom has led to another player in housing market development. Property Horizons Director and Founding Partner Robert Gavin explains, “There are 15,000 oil workers and rising in North Dakota. Many have families who …
Following up on an article we published April 4, 2013 about residents of Wheel Estates Mobile Home Park in North Adams, Mass. becoming a resident-owned community (ROC), iberkshires reports the residents made their first official decision as owners St. May 4, voting to maintain the rules and policies set by …
Co-op Assumes Responsibility for Managing Community Read More
MarketWatch informs MHProNews private equity real estate investment firm Green Courte Partners, LLC announces the promotion of Braden L. Rudoph to the post of Vice President, Asset Management. A senior associate since June 2011, Rudolph has been involved in acquisitions and asset management, and was involved in the company purchase …
According to northbaybusinessjournal in Calif., Santa Rosa-based HybridCore Homes is designing the first phase of an 81-unit modular apartment complex in Williston, North Dakota, where the Bakken Oil Field has created a large demand for housing. The second phase calls for an additional 324 apartments. The name refers to the …
Craig’sDetroit notes southeast Mich. is home to two of the largest owners of manufactured home communities. RHP Properties of Farmington Hills is the largest privately-owned MHC in the nation, having just competed a deal to acquire 71 more communities, bulging its portfolio to $2.25 billion, as MHProNews posted April 16, …
PRWeb reports Oak Creek Homes announces the opening of its new home center, its 17th in Texas, in Midland, TX to sell manufactured and modular homes and commercial buildings. General Manager Craig Johnston says the shortage of affordable housing and the rise in apartment rentals spurred the company to open …
The sacbee tells MHProNews Drew Industries, Inc. reports record net sales for the first quarter ending March 31, 2013 of $253 million, producing net income of $8.4 million, $0.36 per diluted share. An after-tax charge of $0.7 million for executive succession and relocating the company’s headquarters from New York to …
Regional sales manager for Greenstar Building Systems Randy Duggan writes in the Daily Journal of Commerce from Seattle that the Northwest is beginning to accept modular construction as a viable alternative to site-built. Noting the press has covered commercial modular projects as well as nonprofits exploring low-cost modular housing, he …
TheNation reports the Stwo Group of Thailand will open a factory in Rangsit, Thailand in five months to manufacture modular homes and buildings following a 30 percent growth in residential development. Prerapat Srisakulpinyo, CEO of Stwo, says, “We expect to sell about 100 Aidol MYH-branded houses and buildings constructed under …
BusinessWire states Warren Buffett’s Berkshire Hathaway, Inc. has acquired the 20 percent of International Metalworking Companies (IMC) B.V. of Tefen, Israel that it does not already own for $2.05 billion. IMC manufactures and distributes a wide range of metalworking tools for numerous applications through its facilities and subsidiaries in 61 …
Berkshire Hathaway Acquires Balance of International Metalworking Companies Read More
Following up on a story we posted April 16 regarding the acquisition by RHP Properties of 71 manufactured housing communities for $865 million, and a post April 30 about a subsequent acquisition of Countryside Village MHC in Jacksonville, Fla., for $31 million, MHProNews has learned from a correction in bizjournals …
BizJournals reports RHP Properties of Farmington Hills, Mich. has acquired Countryside Village manufactured housing community in Jacksonville, Fla. for $31.3 million from Denver-based ARC Managements Services LLC. The acquisition includes vacant land along Beach Boulevard. According to Duval County records, the property contains 114 structures on 106 acres. Two independent …
