RTTNews reports Freehold, New Jersey-based UMH Properties, Inc. has priced a registered offering of 1.25 million shares of its 8.25% Series A Cumulative Redeemable Preferred Stock at a price of $25.50 per share, which will total 3.66 million shares of Preferred A stock outstanding. The offering is anticipated to raise …
Philly reports low-income housing in a section of Philadelphia called Logan rivals high-income housing elsewhere. The three modular rowhouses are stylish and modern, and among the most energy efficient homes anywhere, with solar paneled roofs that reduce the energy consumption level to near zero, crucial for the poorest of the …
Since Garden Homes Management Corp. began its attempt to construct a 124 homesite MHC in Oxford, Conn. in 2006, it has endured numerous hearings, commission meetings, studies, court battles and appeals, always being told, like that old gospel tune, there is “One More River to Cross.” As MHProNews has posted …
RVBusiness says real estate investment trust (REIT) Sun Communities, Inc. (SUI) reports an increase in sales for the third quarter 2012 of $83.1 million versus $74.7 million for the same period 2011. Sun incurred a third quarter net loss of $275,000 as compared to Q3 2011 when the company lost …
MH and RV component supplier Patrick Industries, Inc. (PATK) says third quarter 2012 net sales were up 45.9 percent to $112.9 million from $77.4 million in Q3 2011, a 13 percent increase of which was in the manufactured housing division. As sacbee tells MHProNews, net income from the third quarter …
MHProNews has learned from CorrectionalNews a U.S. company built a modular 1,232-cell federal prison in Chiapas, Mexico using local workers for the project. Pennsylvania-based Rotondo Weirich’s Latin America arm, RW Antares, partnered with Arendal to establish an onsite facility making the 376 precast concrete modules. The extreme heat in Southern …
JetsonGreen reports Los Angeles-based Connect:Homes has developed a patented system for delivering their modular homes to reduce the overall expense. Noting costs to ship a prefabricated home cross country can amount to $100,000, but to send a container with 64,000 pounds of goods around the world for $5,000, founders Jared …
NASDAQ reports in a TV interview this morning, Oct. 24, on CNBC, Warren Buffett says the housing market has turned a corner and home construction is improving, and he expects Berkshire businesses tied to that industry to pick up. Despite the global economy slowdown, the Oracle of Omaha says the …
NationalMortgageNews says the new Mortgage Bankers Association (MBA) Chairwoman Debra Still says the mortgage industry has to repair its image from top to bottom toward rebuilding the housing and residential finance sectors. Noting lenders have to be committed to do a better job, she says, “Nowhere do we have more …
Equity LifeStyle Properties, Inc., (ELS) reports its Funds From Operations (FFO) rose from $33 million, or $0.76 per share in Q3 last year to $53.2 million, or $1.17 per share for the third quarter of this year. According to RVBusiness, for the nine months ending Sept 30, 2012 FFO hit …
SmartPlanet informs MHProNews from Buenos Aires, Argentina prefabricated housing has meant low cost housing for years in Latin America. Additionally, labor is very low cost, so stacking bricks to make a home is relatively inexpensive. Sebastian Koltan has developed a galvanized steel-framed modular house with distinctive sustainability features: polyurethane foam-filled …
Marianas Variety reports from Micronesia in the South Pacific the first green-designed modular homes are becoming commercially available as affordable housing on the island. Nanum Consulting Corp. is partnering with Guam HNC Inc. and Guam Nexus C&D to build steel-framed affordable one and two-bedroom homes for $50,000. The homes have …
The billingsgazette reports because housing is so scarce and wages are so great in the Bakken Oilfield in western North Dakota, the running joke is the oilfield holds the record for homeless people with $100,000 incomes. A housing summit last spring determined the need for 5,000 housing units for the …
Community NASDAQ reports UFP Washington LLC, a subsidiary of Universal Forest Products, Inc. (UFPI), has agreed to acquire the assets of Nepa Pallet and Container, Inc., a manufacturer of pallets, bins and containers for industry and agriculture in Washington. This acquisition strengthens UFPI’s foot hold in the Northwest U.S., and …
The Midland Daily News reports a marketing company has established a website for Tyrone Woods MHC in Fenton, Michigan that gives the residents better internet service and allows them to connect with each other and management easier. Called a “property website management solution” by its developer, enrichesolutions, a subsidiary of …
The Citizen-Times in Asheville, North Carolina reports Clayton Homes Regional Manager Joe Belcher is running for a seat on the Buncombe County Board of Commissioners. A Republican and strong proponent of bringing more business into the area as well as reducing government debt, Belcher is equally as strong in support …
MarketWatch reports Equity LifeStyle Properties, Inc. (ELS) announces the company’s CEO, Thomas Heneghan, will become CEO of Equity International effective Feb. 2013. The company’s current president and CFO, Marguerite Nader, will fill the position of ELS’ president and CEO as of Feb. 1, 2013. As MHProNews reported Sept. 13, Heneghan …
CanadaNewswire tells MHProNews Halifax, Nova Scotia-based Killam Properties, Inc. (TSX:KMP) announces the board of directors has declared a monthly dividend of $0.04833 per share will be paid to shareholders of record Oct. 31, 2012 on Nov. 15, 2012. This is the same monthly dividend amount that was paid Oct. 15. …
Modular builder Red Sea Housing Services in Jubail, Saudi Arabia reports profits for the first nine months of 2012 rose 32 percent over the same period 2011, according to ConstructionWeekOnline. Year-over-year profits for the three months since June nearly doubled compared to last year. The company said the net income …
Universal Forest Products, Inc. (UFPI) reported an increase of 13.7 percent net sales Q3 2012 over Q3 2011, $533.4 million over $486.9 million. Due to a $2 million one time, pretax charge for a loss contingency, net earnings were $4.2 million in 2012 versus $5.6 million in the same period …
