Australia-based Ingenia will sell its three student accommodation units in Wellington, New Zealand, valued at $35.6 million and invest the receipts in more manufactured housing communities (MHCs). The company paid $10.7 million Nov. 19, 2013 for two MHCs north of Sydney, Australia in Hunter Valley with options to acquire two …
Oak Creek Homes is collecting nonperishable food at their model home centers in Texas, Oklahoma and Louisiana to distribute to those in need before Thanksgiving. Called Pack Our Pantry, as an enticement to manufactured and modular home buyers, Oak Creek is offering a $500 discount on a new home up …
A couple in Ripley, West Virginia have sued CMH Homes, Inc. dba Freedom Homes No. 642 in Jackson County Circuit Court for allegedly selling them and installing a defective manufactured home that they could not use as intended. While wvrecord.com does not specify the nature of the damage, MHProNews has …
Avalon Properties has brought in 100 new and remodeled manufactured homes to Desert Mountain Estates, a manufactured housing community it bought when it contained ten dilapidated factory-made homes and a history of police runs because of criminal activity. Located outside Alamogordo in south central New Mexico, the community is owned …
Manufactured Housing Community Restored in New Mexico Read More
Joe Kelly, executive vice president of the Iowa Manufactured Housing Association (IMHA), noting the importance to the manufactured housing industry of HR 1779, exhorts members to contact their representative in Congress to support the bill. He tells MHProNews Iowa only has four representatives in the House, and of those, Representatives …
Following up on a story MHProNews posted Nov. 4, 2013 regarding the increase in production of manufactured homes in Sept. 2013, the seasonally adjusted annual rate was 59,771, an increase of 0.7 percent from the adjusted rate in August of 59,352. The Manufactured Housing Institute (MHI) says 122 plants reported …
Manufactured Home Production Facilities Remain Stable Read More
The 901 homesite Tri-Star Estates manufactured housing community in Kankakee, Illinois was purchased in April, 2013 by Santefort Real Estate Group for $13 million after prior owner, Capital First, declared bankruptcy in Nov. 2010. Brian Gallagher, chief operating officer (COO) for Santefort, says, “We have a tremendous amount of work …
Stock analyst seekingalpha.com says the two sources of revenue for component supplier Drew Industries are manufactured homes (MH) and recreational vehicles (RV), and suggests the company move away from the MH industry because it does not offer future growth. Noting half of the RV revenue derives from sales of chassis …
Drew should Diversify away from Manufactured Homes Components Read More
Rafferty Capital’s Dick Bove says the Dodd-Frank Act, which went into effect in 2010, was intended to pave the way for lower income borrowers to obtain mortgages, but large banks are being shut out of that market, once again leaving those of modest means fewer options for borrowing money. He …
Dick Bove: Dodd-Frank Shutting out Low Income Borrowers Read More
Although traditional property types such as multifamily, office, industrial and retail continue to dominate the majority of collateral in commercial mortgage-backed security (CMBS), non-traditional properties are increasing. Specifically, as businesswire.com informs MHProNews, manufactured housing communities (MHC) are making up a larger part of the deals. Although this asset class accounted …
Manufactured Housing Communities Grow in Mortgage-Backed Security Deals Read More
MHProNews has learned from multihousingnews in an interview at the Urban Land Institute Nov. 7 of Sam Zell, founder of Equity Group Investments and Equity International, by one-time Zell executive and now Green Courte Partners LLC Chairman Randy Rowe, Zell had some pithy insights. He said it’s ok to make …
In its third quarter financials, UMH Properties announces it has increased its portfolio of homesites by 26 percent since the beginning of the year. For the quarter ending Sept. 30, 2013 funds from operations (FFO) attributable to common shareholders of $1,993,000 or $.10 per diluted share as compared to Q3 …
A project to bring more affordable housing to Spencer, Iowa is in the works at the Sioux River Estates manufactured housing community, according to spencerdailyreporter.com. Dave Jacobsen of Jacobsen Homes Corp. says the plan is to replace the aging factory-built homes with either manufactured or modular homes in the spring. …
Manufactured Homes May Replace Aging Factory-builts Read More
The Juneau, Alaska Affordable Housing Commission is set to petition the Juneau City Assembly for low interest loans for down payments on manufactured homes, according to juneauempire.com. The program would allow for multiple loans up to a maximum of $100,000 loaned at any one time. MHProNews has learned if the …
Following up on a story MHProNews posted Oct. 31 regarding the acquisition of Spruces Mobile Home Park by the city of Williamstown, Massachusetts and returning it to a natural state because it is in a flood plain, the Board of Selectmen will discuss the drafts of three warrant articles dealing …
City Prepares to Acquire Manufactured Housing Community Read More
Unless the Columbia Mobile Home Park in Columbia, California resolves two outstanding violations within thirty days, it’s license to operate will be suspended and it cannot collect rent or other monies from the residents. According to mymotherlode.com the California Department of Housing and Community Development posted the notice at the …
UMH Properties, Inc. of Freehold, New Jersey announces it has acquired five manufactured home communities (MHCs) consisting of 519 developed home sites for $11,800,000, according to wsj.com. The all-age communities—four in Ohio and one in New York—have an average occupancy of 82 percent, and boost UMH’s portfolio to 74 communities …
A manufactured home that had been used by Innovative Hearth Products (IHP) to showcase their products has been donated by the company in Russellville, Alabama to the Franklin County Sheriff’s Office for use by the Franklin County Drug Unit. IHP will also donate sheetrock and other materials to make the …
Residents of the Hillcrest Mobile Home Park in Middleboro, Massachusetts are perfectly willing to see their site rents bumped from $192 a month to $281: It means long-neglected capital improvements will be undertaken for these residents who are purchasing the community from Morgan MHP Mass, LLC. Morgan had asked for …
While many buyers of manufactured homes (MH) are more concerned with affordability and, say, the kitchen cabinetry than energy efficiency, the MH industry is offering more energy efficient features that can save the homeowner anywhere from $30 to $70 month. Ronnie Richards, vice president of marketing for American Homestar Corporation, …
Energy Report on “Not Your Grandfather’s Trailer House” Read More
