In 1970, 30 years after Sears ceased offering prefabricated housing, Shelter-Kit of Tilton, New Hampshire began offering small homes and cabins that could be assembled by aspiring homeowners with no construction experience. MarketWatch tells MHProNews.com customers can choose from a wide variety of options in designing their home, including drawings …
Forbes reports on the heels of Universal Forest Products, Inc. (UFPI) strong first quarter 2012 results, whereby Q1 2011 showed a loss of -0.19 per share to first quarter 2012 return of +0.21 per share, and the recent acquisition of MSR Forest Products LLC, Zacks issued a #1 Rank (Strong …
The 13 county Indianapolis metropolitan area marked an 18 percent rise in existing home sales in April from one year ago. As the IndyStar tells MHProNews.com, the Metropolitan Indianapolis Board of Realtors (MIBOR) says 2,215 homes were sold in April, an increase over the 1,877 sold in April 2011. The …
The Chronicle tells us another modular player has entered the housing game in the oil boom of North Dakota. Colorado-based Confluence has already set the first of ten units of apartments called Confluence at Harvest Hills, as the initial 12 modules were sited May 15. Occupancy of the first unit …
TheOlympian in Olympia, Washington informs us that the Manufactured Housing Institute (MHI) has chosen Clayton Homes in Lacey, WA, just south of Seattle, as the West Retail Sales Center of the Year. The award is based on industry and community involvement, marketing materials, management philosophy, and retail center aesthetics. MHProNews.com …
PalmBeachPost reports from Jupiter, Florida a plan to build 348 rental units will force some 100 residents of Whitehaven Seniors Adult Park MHC to relocate. Jupiter-based FLF 1030 LLC says the company must close the sale of the property and then receive site use and zoning approval from the city …
Following up on a story we covered Jan. 19, 2012, HutchNews reports from Lawrence, Kansas the rental housing planned for University of Kansas students to replace the 241 site Gaslight Mobile Home Village is still being negotiated, as homeowners have begun moving out. Mid-America Manufactured Housing Communities will pay residents’ …
NorthernColoradoBusinessReport says Edmonton, Alberta, Canada-based PTI Group Inc. bought the 100,000 square foot plant previously occupied by Barvista Homes modular home manufacturer in Johnstown, Colorado, to produce modular offices and housing for use by the burgeoning oil and gas industry in northern Colorado. Billing itself as one of the largest …
In it’s second newspaper conglomerate acquisition in six months, HoumaToday tells MHProNews.com Berkshire Hathaway has purchased 63 of Media General’s newspaper properties for $142 million cash, including the Richmond Times Dispatch and Winston Salem Journal. “In towns and cities where there is a strong sense of community, there is no …
A contractor for 20 years, Dale Jech is now certified to build modular homes in Rochester, Minnesota, another player helping to fill the need for housing in the oil fields of North Dakota. Creative Modular Concepts already has orders for 80 homes and anticipates the sixty-man crew will build 145 …
In a conversation SeekingAlpha writer Brad Thomas has with Sam Landy, CEO and President of UMH Properties, Landy describes the beginnings of UMH in 1969 and how the REIT (real estate investment trust) grew profitably through the years until the recent recession. Landy says the company thought manufactured housing was …
MarketWatch informs us that MH component supplier Universal Forest Products, Inc. (UFPI) has acquired through a subsidiary Haleyville, Alabama-based MSR Forest Products, LLC, a provider of roof trusses and cut-to-order lumber for the manufactured housing industry. UFPI has an existing plant in Haleyville. With annual sales of $10 million, MSR …
Yahoo!Finance says MH builder Nobility Homes has won approval from NASDAQ to continue being listed on the exchange through Sept. 14, 2012. Nobility did not file 10-Q reports for the periods ending Aug. 4, 2011 and Feb. 4, 2012, and for Form 10-K for the year ending Nov. 5, 2011 …
heNation says Retirees and members of the Manufactured Home Owners Association of America (MHOAA) came from around the nation to tell Sam Zell at the Equity Lifestyle Properties’ (ELS) annual shareholders meeting that raising rents and cutting services at his MHCs is threatening his own clients ability to remain as …
As part of the agreement it signed last year with Killam Properties of Canada, Kuwait Finance House (KFH) announces it has acquired its second residential property in Canada, the 146 unit Kanata Lakes Apartments in Ottawa, for $42.5 million. As ArabianBusiness tells MHProNews.com, the first joint venture with Killam was …
PRWeb says International Insurance Group, Inc. (IIGI) has created a website to inform consumers of unique insurance risks and coverages for owners and landlords in the MH and RV market. The interactive website allows searches of and quotes from different insurance providers, as well as the opportunity to customize the …
LenConnect in Adrian, Michigan informs MHProNews.com Mid Star Home Builders of Cement City, MI has taken on a new owner. Shelly Saunders is joining her husband, Scott, in operating their Ritz Craft licensed modular home business, which also has a location in Coldwater in southern MI. Scott started the business …
WisconsinRapidsTribune says Ferkey Builders in Saratoga, WI just needs approval from the Saratoga Town Board to build an over-50 modular housing community of 40 homes clustered around seven cul-de-sacs. In order for this and another project to go forward, ordinances dealing with lot sizes had to be amended, which the …
Reuters reports Standard and Poor’s Rating Services has assigned its senior debt rating of AA+ to Berkshire Hathaway Finance Corporation (BHFC) $1.6 billion note offering. The rating is actually based on parent company Berkshire Hathaway’s “extremely strong competitive position, very strong earnings, very strong liquidity position, and conservative financial leverage.” …
MarketWatch says publicly-owned REIT UMH Propeties, Inc. reports in its first quarter 2012 financials, funds from operations (FFO) fell from $0.25 per share in Q1 2011 to $0.17 at the end of March 2012—$3,512,000 down to 2,656,000, respectively. Net income for common shareholders dropped from $2,125,000, $0.15 per share, in …
