The Bradenton Herald tells MHProNews that two adult living manufactured home communities in Bradenton, Florida, sold this month within days of each other, for a combined amount of $13 million. DeSoto Mobile Estates, 1219 51st Ave., sold to Palm Cove MHC LLC, for $8 million on January 14, according …
The increased investment interest in manufactured home communities is similar to that seen in recent years for multifamily properties, according Mark Weiner, chief financial officer for Storz Management, Orangeville, California. “Unlike apartments, manufactured home communities only rent space rather than the living units themselves, which are still owned by the residents,” he …
Manufactured Home Communities Becoming Emerging Investment Trend Read More
Although Mississippi Governor Phil Bryant declared October as “Manufactured Home Month” and noted that factory-built dwellings provide housing for 507,000 Mississippians, this may soon be a thing of the past in Pearl, Mississippi, a town of 25,000. The Mississippi Business Journal tells MHProNews that Mayor Brad Rogers and City Attorney …
Proposed New Ordinances in Mississippi Town Threaten Manufactured Home Communities Read More
Caddis Capital Investments, LLC, announced the firm has purchased two 55+ manufactured home communities (MHCs) near Phoenix, Arizona for 10.8 million. These two properties include Paradise Valley Ranch, a 168-site active adult community in Paradise Valley, Arizona. The other is Chaparral Ranch, a 100-site active adult community in Apache Junction. …
Caddis Capital Closes on $10.8 Million Purchase of two 55+ Manufactured Home Communities Read More
Think that investing in a “senior” community means assisted living or nursing care? Think again. Many of today’s seniors are fit and healthy and living an active lifestyle. Many live in country-club-like manufactured home communities (MHCs) that feature pools, fitness facilities, game rooms, shuffle board, and assorted other amenities that …
Alpha Touts Manufactured Home Communities for Healthy Boomers are Becoming Hot Investments Read More
ChicagoBusiness reports that Chairman Sam Zell’s Equity Lifestyle Properties is the third most prosperous Real Estate Investment Trust (REIT) in Chicago. It seems that shares in the company have returned 42.5 percent this year, largely because of rising occupancies and rents and lower-than-expected expenses. The company boasts a 92 percent …
Manufactured Home Communities REIT Produces Significant Income in 2014 Read More
In North Carolina, the North Wilkesboro Board of Commissioners and the Wilkesboro Town Council approved zoning requests that were presented in public hearings this week. Wilkesboro Planning and Community Development Director Andrew Carlton presented a zoning code amendment requiring that Manufactured Home Community (MHC) plans be approved by the Wilkesboro …
According to Business Wire, the Kroll Bond Rating Agency (KBRA) announced the assignment of preliminary ratings to the Carefree Portfolio Trust 2014-CARE transaction (see ratings list below). MHProNews has learned that the Carefree Portfolio Trust 2014-CARE is a Commercial Mortgage Backed Securities (CMBS) single borrower transaction. It is collateralized by a …
Kroll Bond Rating Agency Rates Carefree in the Manufactured Home Communities sector Read More
Mitchell Resnick, vice president of Freddie Mac Multifamily Capital Markets said: “We are proud to announce our first ever K-Deal that includes a loan backed by a manufactured housing community asset.” MHProNews has learned from Marketwired that the non-recourse loans use Structured Pass-Through Certificates (“K Certificates”), multifamily mortgage-backed securities. The …
Freddie Mac securitized financing for Manufactured Home Communities Read More
HB 5513 would give local governments more control over ‘troubled’ manufactured home communities, MHProNews is told by the Lansing State Journal (LSJ). Fostered by the reaction to what happened with the condemnation of the Life O’Riley Mobile Home Park & Campground in Lansing, WZZM13 says the bill passed the …
Bill gives more local control of manufactured home communities to local governments Read More
The FED may not hit its target until 2016, news encouraging investors to keep the nearly 6.5% rise year-to-date on the Dow advancing. But that didn’t boost the MH Composite Value, which slid in today’s trading, while manufactured housing land lease communities (aka “mobile home parks”) did better overall. Dow 17,647.75 …
Manufactured Home Communities mostly up with the DOW, but MH Composite slips Read More
According to realestaterama.com, three manufactured housing communities in Moses Lake, Washington all become resident-owned communities, each governed by its own democratically-elected representatives. The 113 homesites comprising Lakeview Terrace, Ponderosa and Cascade Village were part of a portfolio owned by Cascade Communities, Ltd., with $3.3 million financing for the co-ops provided …
There are some 45,000 +/- manufactured home land lease communities (MHCs) in the U.S. today. When MH Retailers began to tumble in the post 1998 slide that finally bottomed out in 2010, a growing number of MHC owner-operators realized their traditional source for many of their new home placements – …
Freehold, New Jersey-based UMH Properties, Inc. has closed on the acquisition of four manufactured home communities (MHCS) in the Pittsburgh area for $12,200,000, according to PRWeb.com. These all-age communities contain a total of 336 developed homesites situated on a total of 239 acres. Average occupancy for these MHCs is 84 …
The race for Delaware’s House of Representatives District 37 is pitting incumbent Republican Ruth Briggs King against manufactured housing community (MHC) resident and Democratic challenger Paulette Rappa in the Nov. election. King was first elected to the House in 2009, served on several legislative committees and is the Executive Director …
Manufactured Home Communities at Issue in Delaware Election Read More
Touting the benefits of senior living manufactured home communities (MHCs), deseretnews.com reports manufactured homes, at $40,000-$45,000, are available to fit a retiree’s budget and offer style, function and space as well as tax-deductible interest on mortgage or lease payments, much like a site-built home. Most communities have recreational activities and …
Retirement Manufactured Home Communities Gaining in Popularity Read More
The St. Vincent de Paul Society of Lane County, Oregon purchased the 63-home site Oakridge Mobile Home Park in Oakridge, Oregon for $1.125 million, its fourth acquisition of a manufactured home community in ten years, according to registerguard.com. Aided by state and federal grants and a subsidized low-interest loan from …
Non-profit Acquiring Manufactured Home Communities in Oregon Read More
According to wilmingtonbiz.com in North Carolina, Charlotte-based Properties of Assurance LLC has closed on its acquisition of two manufactured housing communities in the Wilmington, NC area. Bavarian Pointe, a 22-homesite community and 48-homesite Carolina Pines were purchased from Freedom Property Investors LLC for an undisclosed price. MHProNews.com has learned the …
Harris Mobile Home Park in Nederland, Texas was rezoned from neighborhood retail commercial to manufactured home district, one step towards bringing the community into compliance with a new city ordinance that went into effect in 2010. As panews.com informs MHProNews.com, the city now requires all manufactured housing communities (MHCs) be …
Rezoning Required for Manufactured Home Communities Read More
Toronto-based Tricon Capital Group, Inc. (TCN), which bought 3,500 rental units in the U. S. following the housing meltdown, is now seeking to invest up to $670 million (US) in manufactured home communities (MHCs) in Florida, California and Arizona, reports businessweek.com. Chief Operating Officer (COO) Gary Berman says, “If you …
Canadian Firm Seeking Manufactured Home Communities Read More
