Updating a story MHProNews posted Nov. 8, 2013, Marcus & Millichap’s Cleveland office represented Melrose MHP LLC in closing the sale of five manufactured housing communities (MHCs) to real estate investment trust (REIT) UMH Properties for $11.8 million. According to rejournals.com, the homesites cost $22,736 per. UMH has been particularly …
Seller Identified in Manufactured Housing Community Transaction Read More
Following an earlier story regarding Killam Properties of Canada’s sale of 2,308 New Brunswick manufactured housing homesites for $69 million, MHProNews has learned the buyer is Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (TSX:CAR.UN). The eleven communities, all in Atlantic Canada and primarily in scenic rural areas, include Pine …
Land lease community (LLC) owner Killam Properties, Inc. of Halifax, Nova Scotia, Canada announces George J. Reti has retired as chairman of the board and director effective Nov. 29, 2013. He joined the board when Killam became publicly-traded in 2002 and served as chairman since 2003, taking the company from …
MHProNews has learned the Municipal Planning Commission (MPC) for the District of Willow Creek north of Fort Macleod, Alberta, Canada has approved the application for a couple to move their 2,280 square foot modular home. North of Nanton, it is the second residence on the same parcel of land. Also …
The New Hampshire Business Review tells MHProNews the New Hampshire Community Loan Fund (NHCLF) has helped over 100 manufactured home communities (MHC) convert to resident-owned cooperatives in the 30 years since the Sisters of Mercy invested their pension fund in the non-profit. The residents of the Meredith Trailer Park formed …
Funder Celebrates 30 Years Supporting Community Cooperatives Read More
MHProNews has learned from tickerreport.com Universal Forest Products Inc. (UFPI) has declared a $0.21 per share semiannual dividend payable Sunday, Dec. 15th to shareholders of record Dec. 1, 2013. UFPI’s previous semiannual dividend was $0.20. On Oct. 23 analysts at Zacks upgraded shares of UFPI from “neutral” to “outperform” rating …
Killam Properties of Halifax, Nova Scotia, Canada has declared a dividend of $0.05 per share payable on Monday, Dec. 16, 2013 to investors of record on Friday, Nov. 29, 2013. According to tickerreport.com, analysts at Dundee Securities cut their price target on shares of Killam Properties from C$11.75 to C$11.50 …
After the former owners of the Anchor Bay Manufactured Housing Community (MHC) just north of Detroit, Michigan lost the 1,300-site community to the bank, J.D. Equity investors purchased it and have been generous in their support of the community. Most recently, according to voicenews.com, one of the investors (who wants …
The flooding that ravaged Colorado in Sept. destroyed 154 manufactured homes (MH) and damaged 901 additional MH, displacing thousands of residents in the 11 manufactured housing communities (MHC) in the flood zone, according to Kerri Nelson, the state’s deputy chief recovery officer. Some communities may spring back to life with …
Flooded Manufactured Home Victims Deal with Destruction Read More
The Preserving Access to Manufactured Housing Act of 2013—HR 1779—remedies the unintended consequences of the Dodd-Frank Act that disproportionately affect affordable manufactured home lending. To date, 20 Democrats and 85 Republicans have signed on as co-sponsors of the legislation, indicating momentum is growing, but more support is needed to insure …
Champion Home Builders opened a second manufacturing facility at its 30-acre Lake City, Florida location this week (Nov. 18, 2013), adding 45 new jobs, according to digital-journal.com. The 70,000 square foot facility re-establishes the Redman Homes manufactured housing brand that has a respected name in the Southeast, but closed in …
Manufactured Home Builder Opens Second Production Facility Read More
Manufactured housing (MH) component supplier Universal Forest Products, Inc. (UFPI) will began trading ex-dividend Nov. 26, 2013 with a cash dividend of $0.21 per share to be paid to shareholders Dec. 15, 2013, representing a five percent increase over the prior quarter. According to nasdaq.com, its current shares of stock …
SeekingAlpha.com reports manufactured housing community (MHC) proprietor UMH Properties owns 74 communities comprised of 13,400 developed home sites with an average occupancy rate of 82 percent. Forty-three of the communities, representing 46 percent of the holdings, are in the Utica and Marcellus Shale acreage that is being developed by energy …
Elkhart, Indiana-based Drew Industries, Inc. has announced a special cash dividend of $2.00 per share of common stock to stockholders on record as of Dec. 20, 2013, payable on Jan. 6, 2014. “We are pleased to demonstrate our continued commitment to shareholder value through this special dividend,” said Jason Lippert, …
A new rule proposed by the Minnesota Dept. of Labor and Industry would require a sprinkler system in all new homes over 4,500 square feet, including manufactured and modular homes, according to redwoodfallsgazette.com. During a tour of Schult Homes with state legislators, Mark Brunner, president of the Minnesota Modular and …
Sprinklers may be Required in Manufactured and Modular Homes Read More
On second reading, the Goshen (Ind.) City Council put a stamp of approval on Lippert Components’ request for annexation of a 56-acre parcel Lippert intends to use for expansion. The plot is located outside the city but borders the city limits. RVBusiness reports the acreage will be zoned Manufacturing-1 Industrial, …
UFP New London, a subsidiary of Universal Forest Products, Inc. (UFPI), received approval from the Stanfield Town Council and the Stanly County Board of Commissioners in North Carolina for an economic incentive to use a local building for a heat lamination and assembly operation. The incentives require UFP to create …
Publicly-owned investment company Capital Southwest Corp. (Nasdaq:CSWC) has announced that Kelly Tacke has joined the firm as Senior Vice President, Chief Financial Officer (CFO), and Treasurer, having moved over from Palm Harbor Homes, Inc. where she served as Executive Vice-President and CFO. Palm Harbor is a subsidiary of Cavco Industries, …
Continuing the saga of Garden Homes Management Corp.’s seven year attempt to build a 124-unit manufactured housing community in Oxford, Connecticut, as MHProNews last covered Sept. 20, 2013, Nov. 14 saw another four and one half hour hearing to resolve the inland wetlands issue and storm water management without conclusion. …
Seven-Year Battle to Build Manufactured Housing Community Continues Read More
MHProNews has learned from dailyyonder.com, while an estimated 470,000 rural veterans live in manufactured homes (MH), they are less likely to live in MH than the rural population as a whole. However, twice as many rural veterans live in MH than veterans as a whole nationally. While rural areas have …
