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Sunday Morning Recap-Manufactured Housing Industry News June 5-June 12, 2016

By / June 11, 2016 / Advocacy, Announcements, Awards, Business, Canada, Communities, Company News, Economy, Events, Factory-Built Homes, Finance, home buyers, Legal, Legislation, Manufactured and Modular Housing News, Manufactured Homes, Modular, People, regulation, RV, Stocks, Trends, Zoning

What’s New in public focused Manufactured HomeLivingNews.com Media Should Re-Visit Dodd-Frank Reporting in Light of Congressional Testimony Modular Versus Manufactured Homes: Which Is Right for You?   What’s New in Manufactured Housing Industry Professional News Lake Villa MH community sells for $11.3 million. HUD Code production climbs 9.9% in April. …

Sunday Morning Recap-Manufactured Housing Industry News June 5-June 12, 2016 Read More

Sun Communities Closes on Acquisition of Centerbridge’s Carefree Communities

By / June 10, 2016 / Announcements, Business, Canada, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes, RV

Updating a story MHProNews last posted March 22, 2016 regarding the acquisition of Carefree Communities, Inc. from Centerbridge Capital Partners II, LP for $1.68 billion, Sun Communities, Inc. (NYSE:SUI) announces it has closed on the transaction. Sun issued Centerbridge $225 million in shares of common stock priced at $67.57 per …

Sun Communities Closes on Acquisition of Centerbridge’s Carefree Communities Read More

Cavco, Patrick Industries Generating Big Money interest in Stocks

By / June 10, 2016 / Business, Company News, Manufactured and Modular Housing News, Manufactured Homes, Stocks

A recent filing with the Securities and Exchange Commission indicates that Martin Whitman’s Third Avenue Management owns 5.39 percent of the outstanding common stock of Cavco Industries, Inc. (NASDAQ:CVCO), 481,575 total shares, representing a decrease from the 729,734 shares owned as of March 31, 2016. As insisdermonkey tells MHProNews, Cavco …

Cavco, Patrick Industries Generating Big Money interest in Stocks Read More

Plans Move Forward on New Canadian MH Community

By / June 10, 2016 / Business, Canada, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes, Zoning

From eaglevalleynews in southeast British Columbia, Canada MHProNews has learned Sicamous, BC developer Darrel Trouton is seeking municipal approval to site manufactured homes in an area targeted to affordable housing, but requiring rezoning from R1A, urban single-family home to include CSA-approved Z240, which is for manufactured homes (MH), but would …

Plans Move Forward on New Canadian MH Community Read More

Arizona MH Community Destined to Move Forward Despite Neighbors’ Opposition

By / June 9, 2016 / Business, Communities, Company News, home buyers, Legal, Manufactured and Modular Housing News, Manufactured Homes, People

The Mohave County Board of Supervisors (Arizona) approved by a vote of four to one the development of an age-restricted manufactured home community south of Chloride near the Old Boulder Dam Highway, despite opposition from neighbors who fear low-income residents that may be involved in crime. Neighbors Judy and Norm …

Arizona MH Community Destined to Move Forward Despite Neighbors’ Opposition Read More

Hunt Mortgage Provides Fannie Mae Loan for Trails of Oak Hills MHC

By / June 9, 2016 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes

Financing commercial real estate throughout the U. S., Hunt Mortgage Group, headquartered in New York City, has arranged a $5.3 million Fannie Mae loan to refinance The Trails of Oak Hills manufactured home community (MHC) in Austin, Texas, the property of Wier Hills Ltd., a Texas limited partnership backed by …

Hunt Mortgage Provides Fannie Mae Loan for Trails of Oak Hills MHC Read More

June15-1976-ManufacturedHousing40thAnniversary-mhlivingnews-postedMHProNews-com

40th Anniversary of Manufactured Housing Approaches

By / June 9, 2016 / Announcements, Company News, Factory-Built Homes, Manufactured and Modular Housing News, Manufactured Homes, mobile home

MHLivingNews.com will be doing a celebration feature to commemorate the 40th Anniversary of the first factory-built homes constructed to the HUD Code for Manufactured Housing. The “big 4-0” is on June 15, 1976. MHLivingNews.com already has a new video that features a ‘walk down memory lane,’ reflecting the advances from …

40th Anniversary of Manufactured Housing Approaches Read More

Lake Villa Estates Sells for $11.5 Million

By / June 7, 2016 / Announcements, Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes

Arthur Tuverson, Managing Director of Pillar’s Manufactured Housing Community/RV Resort Group, has originated an $11.5 million Freddie Mac acquisition loan for Lake Villa Estates manufactured home community (MHC) in Oxford, Michigan, 45 miles north of Detroit, according to rebusinessonline. Featuring 852 homesites on 174 acres, the MHC was built in …

Lake Villa Estates Sells for $11.5 Million Read More

Sun Communities Declares Three Quarterly Dividends

By / June 7, 2016 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, Stocks

MHProNews has learned from euroinvestor that the board of directors of real estate investment trust (REIT) Sun Communities, Inc. (NYSE:SUI) has declared a quarterly distribution of $0.65 per share of common stock for Q2 2016. The distribution is payable July 15, 2016 to shareholders of record as of June 30,2016. …

Sun Communities Declares Three Quarterly Dividends Read More

Repurposing of MH Community will be a Positive for Residents

By / June 4, 2016 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, mobile home

Joe Kelly of the Iowa Manufactured Housing Association (IMHA) tells MHProNews that IMHA members Eddie and Cheri Cole, owners of Forest View Mobile Home Court, are involved in a development project that will benefit their residents. A multimillion dollar project proposed for Iowa City, Iowa on the current site of …

Repurposing of MH Community will be a Positive for Residents Read More

City Moves Manufactured Homes, Installs them Improperly

By / June 3, 2016 / Business, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes

The North Dakota Manufactured Housing Association (NDMHA) is questioning the city of Minot’s decision relocating manufactured homes out of Odd’s Mobile Home Park to make way for a proposed flood protection project, according to minotdailynews. Kent French, association member in charge of governmental affairs, said the city used state and …

City Moves Manufactured Homes, Installs them Improperly Read More

Manufactured Home Lender Opening Branch in Jupiter, Fla.

By / June 2, 2016 / Business, Company News, Finance, home buyers, Manufactured and Modular Housing News, Manufactured Homes, People

Fannie Mae/Freddie Mac seller/servicer and Ginnie Mae issuer, Platinum Home Mortgage tells MHProNews it has opened a branch in Jupiter, Florida, its seventh new location this year. In addition to an in-house manufactured home financing program, the bank will offer conventional, non-qualified mortgage, Federal Housing Administration (FHA), Veterans Affairs, U. …

Manufactured Home Lender Opening Branch in Jupiter, Fla. Read More

Spruceland of Canada now Divested of its Two Manufactured Home Communities

By / June 2, 2016 / Announcements, Business, Canada, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes

Following a post MHProNews last covered Dec. 17, 2015 regarding Spruceland Properties, Inc.’s disposition of its assets, as of June 1, 2016 it has finalized the sale of its two manufactured home communities for $40.6 million. Jubilee Landing in Sherwood Park, Alberta, and Willow Park Estates in Leduc, Alberta went …

Spruceland of Canada now Divested of its Two Manufactured Home Communities Read More

UMH Community Hosting Baseball Legend “Doc” Gooden ; UMH Chair to Present at NAREIT

By / June 1, 2016 / Announcements, Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes, People

UMH Properties, Inc. (NYSE:UMH) announces it will host three-time champion World Series pitcher Dwight “Doc” Gooden on June 18, 2016 at the manufactured home community owner’s Kinnebrook Estates in Monticello, New York. Gooden will sign fans’ sports memorabilia or a free photo of the storied pitcher that attendees will receive …

UMH Community Hosting Baseball Legend “Doc” Gooden ; UMH Chair to Present at NAREIT Read More

Tremont Realty Secures $6.6M refi for New York MHC

By / June 1, 2016 / Business, Communities, Company News, Finance, Manufactured and Modular Housing News, Manufactured Homes

MHProNews has learned from rebusinessonline that John Chase of Tremont Realty Capital has arranged a $6.6 million refinance loan for Oakland Ridge MHC (manufactured home community) in Riverhead, New York, on Long Island. The non-recourse loan for the 100 home site community was structured with a ten-year term and a …

Tremont Realty Secures $6.6M refi for New York MHC Read More

From Surfboard Builder to Sustainable Home Builder

By / June 1, 2016 / Business, Company News, Factory-Built Homes, Manufactured and Modular Housing News, Modular

A longtime builder of surfboards in Australia, Nev Hyman became increasingly concerned about plastic waste he saw in the ocean, which led him to consider building inexpensive housing from recycled materials, as mashable informs MHProNews. Initially, he wanted to build homes using plastics, so he invested in a plastics recycling …

From Surfboard Builder to Sustainable Home Builder Read More

Employment Services Offered to Former Mod-U-Kraf Workers

By / June 1, 2016 / Business, Company News, Factory-Built Homes, Manufactured and Modular Housing News, Modular, People

Following a story MHProNews last posted May 11, 2016 regarding the sudden end of operations for Innovative Building Systems (IBS) and the fall out that closed Excel Homes, and  Mod-U-Kraf Homes in Rocky Mount, VA, roanoke reports the Franklin Center in Rocky Mount held a support and job-seeking gathering for …

Employment Services Offered to Former Mod-U-Kraf Workers Read More

Drew Hits New Stock High; Equity LifeStyle Properties Declares Dividend

By / May 31, 2016 / Business, Communities, Company News, Finance, Manufactured Homes

Drew Industries, Inc. (NYSE:DW) stock hit a new 52-week high Fri., May 27, $77.31, 44 cents shy of a ten dollar bill increase over the 50-day moving average of $67.63, and finally closing at $77.19. Brokerage analysts at Citigroup on May 20 issued a “buy” rating for the stock and …

Drew Hits New Stock High; Equity LifeStyle Properties Declares Dividend Read More

CFPB Director Cordray tells Whistleblower to have her Attorneys “Back Down”

By / May 30, 2016 / Company News, Legal, Manufactured and Modular Housing News, People, regulation

Claiming senior managers within her office bullied and demoted her for filing a complaint with the Equal Employment Opportunity (EEO) office, Angela Martin said in testimony before the House Committee on Financial Services that the Consumer Financial Protection Bureau (CFPB) had a “pervasive” culture of intimidation and hostility within the …

CFPB Director Cordray tells Whistleblower to have her Attorneys “Back Down” Read More

Manufactured Housing is Moving in New Mexico

By / May 30, 2016 / Business, Company News, Economy, Factory-Built Homes, home buyers, Manufactured and Modular Housing News, Manufactured Homes, Modular, Trends

Mark Duran, executive director of the New Mexico Manufactured Housing Association, stated the resurgence in appeal of the manufactured home (MH) stems from the desire of home ownership, built-in amenities and lower cost, and today’s buyers range from the starter home set to the well-being who have often cashed out …

Manufactured Housing is Moving in New Mexico Read More

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