As themercury tells MHProNews from Australia, modular homebuilder EMAC Systembuilt Group announces it has acquired Mornington Park Homes Pty Ltd, an affiliate of the now defunct Park Homes group. Mornington was placed in receivership last month after it defaulted on loans. The new venture will be called System Built Homes, …
UMH Properties’ stockholders of record on May 15th will receive the benefit of $0.18 per share June 17, representing a yield of 6.79%, according to information MHProNews has received from utahpeoplespost. While The Street downgraded the stock to “hold” from “buy” March 15, it was up Monday April 8 by …
RVBusiness informs MHProNews Lippert Components, Inc. has asked the Goshen (Ind.) City Council for a tax break to expand its operations and hire 376 more employees by 2016, spending $10 million for new equipment. A division of Drew Industries, Inc., Lippert is a component supplier to the manufactured housing and …
According to nreionline (National Real Estate Investor), NorthStar Realty Finance Corp. has acquired a portfolio of 71 manufactured home communities comprised of approximately 17,000 home sites for $865 million. Financed with a $640 million mortgage for ten years at 4.02% fixed, the company expects an initial annual yield of 14%. …
The heraldtribune reports MHC Mermaid’s Manor in Bradenton, Fla. has been acquired out of foreclosure by trusts in the name of Harold E. Crye and Hazel Ann Ball for $1.2 million, from BOFI Federal Bank. The 70-site Mermaid’s was previously owned by Tampa’s CPM Properties LLC, managed by Harvey Estes, …
According to the brightonpittsfordpost, Robert Morgan, founder and CEO of Rochester, NY-based Morgan Management has been named recipient of the 2013 Herbert W. Vanden Brul Entrepreneurial Award by the RIT Saunders College of Business. Honored for 30+ years of successful business in Rochester, the company Morgan founded now employs 950 …
MarketWatch reports Denver-based YES! Communities has acquired a portfolio of 64 manufactured housing communities (MHCs) comprised of 14,000 home sites mostly in the Atlanta and Dallas metropolitan markets, but also including Corpus Christi and El Paso, Texas, as well as Las Cruces and Las Alamos, New Mexico. With the completion …
Updating a story we posted Feb. 27, 2013 concerning residents of Wheel Estates MHC in North Adams, Mass. trying to buy their community, iberkshires informs MHProNews the nearly $4 million loan went through, financing managed by ROC (resident-owned communities) USA of New Hampshire. For years residents have allegedly complained the …
MyWestTexas tells MHProNews housing supplier Goliath Industries, responding to the urgency one year ago for oilfield housing, quickly sited 21 leased modular housing units to accommodate 50 workers southwest of Odessa, Texas. From clearing the land to welcoming the first occupants took a mere four weeks, but now the company …
The marshallindependent reports from Marshall in southwest Minnesota that the Lyon County Board of Commissioners has approved a three-year tax abatement for a modular housing business seeking to move to a facility in Cottonwood, just north of Marshall. C. David Hoefer of Goshen, Ind. says the as yet unnamed company …
Stockhouse reports UMH Properties, Inc. (NYSE:UMH) has acquired the 274 homesite Holiday Mobile Village in Nashville, Tenn. for $7,250,000. Situated on approximately 68 acres with an occupancy rate of 82 percent, MHProNews has learned this purchase bumps UMH into owning 68 communities with 12,800 developed homesites. Samuel A. Landy, President, …
UMH Acquires Tennessee Manufactured Housing Community Read More
The Manufactured Housing Institute (MHI) reports home manufacturers Clayton Homes, Fleetwood Homes, Golden West Homes, Hallmark Homes, Karsten Homes, and Skyline Corp. will partner with the Calif. Manufactured Housing Institute and the Systems Building Research Alliance to research new and innovative envelope systems. With wall and roof building technologies expected …
Updating an article we posted Feb. 11, 2013 regarding Clayton Homes’ teaming with teacher Patricia Bradley to open Tenn.’s first STEM (science, technology, engineering and math) school, KnoxNews says the Clayton-Bradley Academy in Maryville has hired a full staff of teachers and enrolled half of the anticipated K-6 students. Adjacent …
According to bizjournals, Thomas M. Saltsgiver, president and founder of modular builder Muncy Homes, Inc. of Muncy, Penn., has applied with the Pennsylvania Dept. of Banking and Securities to acquire 85 percent of the common stock of First Cornerstone Bank in King of Prussia, Penn. While the bank is 90 …
According to coastlinepilot, Chicago-based Hometown America Communities is preparing to purchase 158-homesite Laguna Terrace Park MHC of Laguna Beach, Calif., just south of Los Angeles. MHProNews has learned the property is owned by Amy Esslinger, widow of the late Steve Esslinger, who had tried to convert the property to resident …
Hometown America to Buy California Land Lease Community Read More
KENS5-TV reports from Encinal, Texas developer David Monnich is building modular housing from shipping containers and is planning a 70-unit building in the Eagle Ford Shale oilfield area. Noting they stack nine high on cargo ships, Monnich says, “They’re structurally proven. They were insulated, framed and prewired before we brought …
PRWeb reports from Houston, Texas that while noting more internet searches for homes are being done on mobile devices rather than desk or lap tops, Oak Creek Homes has developed a mobile version of its website, enabling shoppers to view the entire line of manufactured and modular homes and request …
InsiderMonkey reports UMH Properties (NYSE:UMH) generates an average of $391 for each of its 10,644 homesites. With vacancies around only 20 percent, involvement in manufactured homes sales and rentals, and no exposure to commercial or retail properties, it is wildly profitable. Although it is considered a small-time real estate investment …
KeyNews reports from Key West, FL the 44 factory-built homes that comprise the Old Town community may soon be replaced with two and three-bedroom stick-built or modular townhomes. Southernmost Cabana LLC bought the property from the Archdiocese of Miami in 2009 for $2.4 million and has submitted preliminary plans that …
InsideIndianaBusiness informs MHProNews that Lippert Components, Inc. (LCI) of Goshen, IN has hired Frank Perna as vice president of operations for manufactured housing windows. A 25-year veteran of the vinyl and aluminum window industry, Perna has been with Silver Line Building Products LLC, a division of Andersen Windows. He will …
