Benzinga reports that the Katy Independent School District (Katy ISD) in Katy, Texas, is ordering 27 modular buildings to meet enrollment needs in this fast-growing suburb of Houston. Several new nearby housing developments will increase the number of families, so the district advertised for an accelerated solution to obtain classrooms. …
Expeditious Need Leads Texas School District to Modular Read More
Bloomberg reports Walter Investment Management Corp. (NYSE: WAC) of Florida is acquiring Green Tree Credit Solutions (NYSE: GTCS), commonly known as Green Tree, of Minnesota, for $745 million. Green Tree’s $37.5 billion portfolio includes manufactured housing loans as well as consumer loans and residential mortgages. The goal stated by Walter’s …
The Winnipeg Free Press says a Canadian company that has shipped nearly 12,000 manufactured homes to Japan in the past ten years, will send 200 temporary shelters within the next two weeks. Viceroy Homes, Ltd. is building a basic structure with a bedroom, kitchen and bathroom that normally sells for …
Canadian MH Builder Expects Japanese Orders to Spur Business Read More
American Banking and Market News says ATCO Structures and Logistics has received a contract to provide modular housing, dining and recreational facilities for a 1,500 person workforce for Rio Tinto Alcan, Inc.’s smelter modernization project in Kitimat, BC. The modular units, designed to withstand extreme cold and snow, will be …
Canadian Smelter Modernization to Receive ATCO’s Modular Units Read More
North County Now in New York reports that the Akwesasne Mohawk Indian Reservation has been home to General Fine Homes since 1993 when George and Rowena General began selling log homes. Modular and manufactured homes were later added, with customers in France, Canada and throughout the state, but their Native …
Loan to Native Americans to Spur Growth on Reservation Read More
Chicago, IL. Allegations circulated by email claimed a second Capital First Realty property, Sunset Village in Glenview, IL, may be closed as a manufactured home community. The email from an unidentified source alleged that letters were issued from the bankruptcy court to residents, giving them one year to vacate. While …
Capital First Realty Denies New Rumor about Second LL Community Read More
The Boston Business Journal reports that Westchester Modular Homes of Greater Boston (WMHGB) has a new CEO, Scott Jones. As reported by MHMSM.com on March 9, WMHGB recently installed a three-story modular home in tightly-packed Boston, on a site only 20 square feet larger than the structure. The Lynnfield, Massachusetts, …
In its report of sales and earnings for fiscal year ending November 6, 2010, Nobility Homes reports sales increased over the last fiscal year 25 percent to $14,861,682. Sales for the previous year were 11,869,333. Net loss for 2010 after taxes was $795,130 versus loss of $1,051,843 for the same …
Forbes magazine says that Warren Buffett’s Berkshire letter to his shareholders did not garner much press coverage about his ownership of Clayton Homes, which is doing pretty well compared to other manufactured home producers. Despite the fact that Clayton’s customers generally have low credit scores, the percentage net loss for …
Buffett Says Clayton’s Careful Loans Maintained Solvency Read More
Cavco Industries successfully pulled off its takeover of bankrupt Palm Harbor Homes through its subsidiary, Fleetwood Homes, for $83.9 million at a bankruptcy auction March 1. Fleetwood, which is 50 percent owned by Cavco and 50 percent by Third Avenue Value Fund, will acquire essentially all of Palm Harbor’s assets, …
Sterling Homes Development Corporation, a Massachusetts-based custom home builder and renovator, has been recently providing modular homes in the Greater Boston area. Their exhibit space at the New England Home Show at the Seaport World Trade Center in Boston Feb. 24-27 will include a green modular home. According to PRNewswire, …
Traditional Home Builder Displays Modular Model at Show Read More
One of the largest owners of Manufactured Home Communities (MHC) in the nation, Hometown America Corporation of Chicago, purchased the 101-acre Suffolk County, New York, Thurm’s Estates community. Renamed Calverton Meadows by its new owner, the 328-lot community requires tenants to be 55 years and older. It is one of …
T.J.T., Inc., a major supplier of axles, tires and set-up supplies to the manufactured housing industry, announced a net loss Tuesday of $286,000 in its first quarter of fiscal 2011. Net sales decreased 27 percent in the first quarter of fiscal 2011 as compared to the same period in 2010. …
T.J.T., Inc. Reports Results for First Quarter Of Fiscal 2011 Read More
Net income for this provider of manufactured homes and RV’s jumped nearly 13 percent to $38.4 million over 2009 despite the economic downturn. According to Medill Reports, this Chicago-based real estate investment trust (REIT), which has a controlling interest in over 300 North American resorts comprising more than 10,000 home …
The Credit Union Times reports that San Antonio Federal Credit Union Chief Operating Officer Stephen S. Hennigan has been named president of the credit union. The Trade Journal says Hennigan has been credited with being integral in helping create Credit Union Factory Built Lending, a credit union service organization (CUSO), …
The old adage that sold Packard automobiles for many years, “Ask the Man Who Owns One,” still rings true in Clayton Homes’ Abilene, Texas office. General manager Buddy Parish, a veteran of nearly thirty-five years selling manufactured homes, earned the company’s Five Star Service Award sixteen out of the last seventeen …
Berkshire Hathaway and Wesco Financial Corporation announced Monday that they entered into a definitive merger agreement, whereby Berkshire Hathaway will acquire the remaining 19.9 percent of the shares of Wesco’s common stock that it does not presently own in exchange for cash or shares of Berkshire Hathaway Class B common stock, …
Berkshire Hathaway Inc. to Acquire Outstanding Wesco Stock Read More
Champion Enterprises Holdings, LLC, announced Tuesday that John N. Lawless, III has been named its President and Chief Executive Officer. Since 2007, Lawless has been the President of Headwaters Construction Materials, Inc., a manufacturer of building products based in Wixom, MI. Prior to that, Mr. Lawless was President and Chief …
Drew Industries Incorporated, a leading supplier of components for recreational vehicles and manufactured homes, reported this week that its wholly-owned subsidiary Lippert Components, Inc., acquired the assets and business of Nampa, Idaho-based Home-Style Industries, and its affiliated companies. The purchase price of $7.25 million was paid from available cash, and …
The Manufactured Housing Institute (MHI) has hired Lisa Quinn Brechtel for the position of Vice-President/Executive Director of MHI’s National Communities Council. She will be dedicated to landlease community issues and programming. Ms. Brechtel comes to MHI from the National Association of Realtors (NAR), where she served as a Senior Policy …
MHI Welcomes Lisa Quinn Brechtel as National Communities Council Exec Read More
