The Sacramento Bee says Origen Financial, Inc. (Pink Sheets:ORGN) reported a net loss of $2.8 million for the first quarter of this year, at 11 cents a share, versus a net loss in Q1 2010 of $5.2 million, or 20 cents a share. The company, a real estate investment trust …
Portfolio Manager’s First Quarter Less Painful Than Q1 2010 Read More
Following up on a story we published here March 17, Bloomberg reports that Bruce Ratner, CEO and chairman of Forest City Ratner Companies, the developer of the Atlantic Yards in Brooklyn, New York, plans to borrow $100 million to construct the 34-story modular apartment building. Thirty percent of the 400 …
RVBusiness says that real estate investment trust (REIT) Sun Communities, Inc., of Southfield, Michigan, acquired Orange City RV Resort in Orange City, Florida, for $6.47 million cash. Orange City has 517 RV sites and is less than 50 miles to Disney World and the Daytona Beach area. According to the …
The Santa Monica Daily Press reports that eleven new manufactured homes are being showcased as examples of green technology applied to manufactured housing. Built with a combination of federal funds and local redevelopment dollars as part of an affordable housing initiative, the units have solar cells for energy and water …
California City Backs Green, Affordable Manufactured Homes Read More
Chicago Real Estate Daily reports that Sam Zell’s Equity LifeStyle Properties (ELS) is adding 31,167 home sites to its portfolio of 111,002 home sites by buying 76 land lease communities (LLC) from Hometown America LLC, its Chicago-based competition. The properties are spread over 20 states. ELS will finance the $1.4 …
Equity LifeStyle Properties Acquires Chunk of Competitor Read More
Zacks reports that SmarTrend says of the five top residential real estate investment trusts (REITs) with the highest free cash flow (FCF) per share, two are land lease community (LLC) owners. Equity Lifestyle Properties ranks in the top spot with free cash flow per share of 3.76x, and is also …
The United Kingdom’s 24Dash reports that Powerwall has developed a three-bedroom energy efficient modular house for £57,000 (just under $95,000), excluding land and foundation, to help meet affordable housing needs in England. The house comes equipped with finished interiors, bathrooms and kitchens, and the estimated annual fuel cost is just …
SmallCap Network recommends three manufactured housing stocks as smart buys , because at some point the housing industry will pick up, and now is the time to “join the party.” It says Cavco Industries, Inc. (NASDAQ:CVCO), is a good buy for the short term, but not the long term. The …
WNEP 16 reports from east central Pennsylvania that a modular home builder near Selinsgrove moved into a facility vacated by a previous modular home builder last year in Snyder County. Durabuilt owner Kevin Hahn says they have already hired 20 additional workers since opening, increasing production by 40 percent. Despite …
“Housing Built in Alabama for Alabama Citizens,” is what Sherry Norris, Executive Director of the Alabama Manufactured Housing Association says about an exciting project taking place right now. She sent word to MHMSM that two blocks of dilapidated housing were cleared in Montgomery, Alabama, to make way for a series …
It was brought to our attention by a reader that in a story we reported May 20, we mistakenly identified Carlyle Group, headquartered in Hollywood, California, with The Carlyle Group, a private-equity firm headquartered in Washington, D.C. Carlyle Group, of California, is an asset management firm that manages 5,000 Land …
MHMSM has obtained the Notice of Dismissal in Case 10-45772 Doc 178 Filed 05/18/11 Sunset Village Limited Partnership. Sunset Village is a community owned by Capital First Realty, Inc. based in Chicago. The case was filed in the United States Bankruptcy Court, Northern District of Illinois, Eastern Division. Sources close …
The Sussex Countian reports the opening of a brand new modular home dealer in Georgetown, Delaware. Two Sussex Central graduates have opened Peninsula Homes between Georgetown and Millsboro near the Eastern Shore, and offer over 100 variations for the homes. Turnaround time is six to eight weeks. Co-owner Eddie Ghabor …
West Virginia Public Broadcasting recorded two voices from the manufactured housing industry in West Virginia. A 23-year veteran in the business, and now the general manager of Freedom Homes in Raleigh County, Rocky Mills says several of his competitors have gone out of business because of the rough economy. He …
MH Pros in West Virginia Say Industry Is Toughing it Out Read More
Following up on an article we published here May 18, Benzinga reports ATCO Structures and Logistics (ATCO) has been awarded a second contract for building a modular workforce community on Curtis Island, Queensland, in Australia. The Gladstone Liquefied Natural Gas (GLNG) project will have 336 modular housing units, including recreational …
The Langley Advance reports one of the largest modular and manufactured housing firms in Canada is being sold to Western One Equity Income Fund for $93 million. Britco, of British Columbia, which supplied the Winter Olympics with the Whistler Village modular units, will become part of a public company that …
Business Wire says T.J.T., Inc., is closing its Platteville, Colorado, operation which served manufactured housing plants in a tri-state area with recycled axles, running gear and tires. Many of the plants have either closed or reduced housing production. T.J.T., established in 1977, is moving its collection and distribution operation to …
Inside Business from Australia reports that there is a shift from modular home building in rural areas to inner urban, now accounting for 40-50 percent of the new modular construction, but lending institutions are skeptical about financing. Jan Gyrn, managing director for Modscape, says they have experienced 300 percent growth …
Modular Housing Growing but Facing Financing Challenges in Australia Read More
Origination News reports different lenders have creative incentives to help deplete the glut of affordable houses on the market. Fannie Mae is offering 3.5 percent closing cost assistance for Fannie’s Owned HomePath Property loan as long as the deal is sealed before June 30, 2011. The borrower must use it …
Lenders Offering Different Incentives to Draw Borrowers Read More
Michael Stoler reports in The New York Observer that a partnership led by The Carlyle Group and Crown Acquisitions is selling part of the first and second floor retail space at 666 Broadway in New York City that it bought in 2008 for $525 million. Valued at $6,187 per square …
