While terms of the acquisition were not disclosed, Zeman Homes, Inc. has informed MHProNews it has acquired four manufactured home communities (MHC) in the greater Detroit metropolitan area.
All age communities Wagon Wheel, Wagon Wheel South, Carleton and Oak Haven have added 749 home sites to Zeman’s portfolio of MHCs, now totaling 1,400 sites in Michigan. This includes the company’s new age-restricted community in Rockford, MI. Brian Fannon of Strategic Operating Solutions partnered on the transaction.
Jeff Fannon, CEO of Zeman Homes, stated “These are a great fit to add to our core portfolio. While we have started to shift our long term growth strategy to Sun Belt states outside of the Midwest, our terrific in place team continues to allow us to be opportunistic buyers in the Midwest.”
Zeman owns and operates MHCs in Arizona, California, Florida, Illinois, Indiana and Michigan comprised of more than 10,000 homesites. ##
(Image credit: Zeman Homes, Inc.)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.