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Posts Tagged ‘American Land Lease’

American Land Lease announces Dividend

November 12th, 2014 Comments off

american-land-lease-ALLCorporateLogonewstandard-posted-daily-business-news-mhpronews-com-American Land Lease, Inc. announced that it’s Company’s Board of Directors declared a quarterly cash dividend on its 7.75% Series A Preferred Shares.

Dividends on the Company’s Series A Preferred Shares are payable on December 1, 2014 to shareholders of record as of the close of business on November 20, 2014 and will be $0.4844 per share, MHProNews has learned.

As regular Daily Business News readers know, American Land Lease, Inc. is a Clearwater, Florida-based real estate investment trust that owns and manages high-quality residential land-lease communities, aka manufactured home communities (or to those using dated terminology, ‘mobile home parks’).

The firm operates approximately 19,325 land-lease home sites in communities located in 11 states that are owned directly or by affiliated entities. The firm entered into an agreement earlier this year to be acquired by Sun Communities, in a $1.32 billion dollar deal, that should be nearing completion.

Additional details can be obtained from their General Counsel, Benjamin S. Allen. ##

 

12 Million MH Community deal in Rio Grande Valley

October 9th, 2014 Comments off

parkbridge-capital=logo-posted=daily-business-news-mhpronews-Parkbridge Capital Group, LLC manager Lee Meekcoms, whose name is already well established in the real estate industry, led the closing of a $12,000,000 transaction between a private investor from Florida and Paradise Park in the McAllen-Pharr area of the Rio Grande Valley of Texas. Clearwater FL based Parkbridge specializes in real estate sales and investments focusing on mobile homes, manufactured homes and RV resorts.

The transaction included the acquisition and a loan to enhance cash flow. Meekcoms revealed “This investment for the Paradise Park was a significant opportunity, the group is already planning the future. ABC10  and PR Web   tell MHProNews, Parkbridge is actively seeking more such Manufactured Home (MH) Communities in markets all over the Sunbelt.

Reasons for the excitement around investing in MH Communities revolve around the rising value of such properties, as demand for quality affordable living is growing.

Resorts like Paradise Park which offer a luxurious environment at affordable rates are growing in appeal to retirees seeking for alternative ways of living. The Texas location, with all sorts of features, resembles a private club with clubhouse, pool and spa, billiards tables, gym and more.

Targeting the baby boomers market for MH seems to have a bright future in the Sunbelt. The warming sun and affordable living are a desirable combination for seniors looking to relocate. Closings like this, or the recent $1.32 billion dollar SUN-American Land Lease deal, confirm there are opportunities for investors looking to maximize cash-flow in the MHC segment of the commercial real estate space. ##

(Image Credit: Parkbridge Capital Logo)

(Daily Business News article submitted by Lucine Colignon) 

Green Courte Acquires Land Lease Community in Arizona

June 11th, 2014 Comments off

MHProNews.com has been informed that private equity real estate investment firm Green Courte Partners, LLC has acquired Mountain View Estates, a 170-homesite age-restricted manufactured housing community (MHC) in Mesa, Arizona. Green Courte’s William Glascott says, “With this acquisition, our portfolio of age-restricted land-lease communities within the greater Phoenix market includes seven communities with over 1,700 home sites.” American Land Lease, Inc., a wholly-owned subsidiary of Green Courte, manages the company’s MHC portfolio, which now includes over 19,500 homesites comprising 55 communities in eleven states, and will manage Mountain View as well. ##

(Photo credit: Green Courte Partners, LLC)

Green Courte buys another ‘Senior’ Manufactured Home Community

August 23rd, 2013 Comments off

green-court-partners-posted-on-mhpronews-comGreen Courte Partners, LLC announced the acquisition of Lamplighter Manufactured Home Community, an age-restricted land-lease community, containing 260 home sites, located in Port Orange, Florida. Green Courte engaged American Land Lease, Inc., a wholly-owned subsidiary of its second fund, Green Courte Real Estate Partners II, LLC, to manage the community. American Land Lease manages Green Courte’s land-lease/manufactured housing community portfolio. That portfolio now includes over 19,300 developed home sites located across 54 communities in eleven states. American Land Lease will operate the community under their “55+” lifestyle brand, Solstice Communities. As MHProNews readers know, Green Courte Partners, LLC is a private equity real estate investment firm focused on niche real estate sectors, which includes manufactured housing, parking garages and more commercial real estate interests. American Land Lease CEO, David Lentz, is also the Chairman of the National Communities Council (NCC) division of the Manufactured Housing Institute (MHI). ##

(Image Credit, Green Courte Partners Logo)

Green Courte Adds Two Communities to its Portfolio

July 31st, 2013 Comments off

Lake Forest, Ill.-based private equity real estate investment firm Green Courte Partners, LLC announces the acquisition of two all-age land lease communities in southern Maine. Incorporating 483 home sites, MHProNews has learned Town & Country Village in Lisbon and Maplewood Manor/Merry Meeting in New Brunswick will be managed by American Land Lease, Inc., a wholly-owned subsidiary of Green Courte. American Land Lease manages the manufactured housing community portfolio of Green Courte, which now includes 53 communities in eleven states comprised of 19,000 developed home sites.

(Photo credit: Green Courte Partners, LLC)

Green Courte Announces Promotion of Braden Rudolph

June 19th, 2013 Comments off

Private equity real estate investment firm Green Courte Partners, LLC announces the promotion of Braden Rudolph to Vice President, Asset Management. A 2010 MBA graduate of Northwestern University’s J L. Kellogg School of Management, Rudolph has been active in strategic initiatives at American Land Lease, Inc., an owner/operator of 50 manufactured housing communities comprised of 18,500 home sites. A Senior Associate with Green Courte since June 2011, he was also a principal in the company’s acquisition of The Parking Spot, a major player in near-airport parking facilities, as pehub.com informs MHProNews. Green Courte specializes in parking asset and land lease community investments.

(Image credit: Green Courte Partners, LLC)

Green Courte Promotes Rudolph

May 7th, 2013 Comments off

MarketWatch informs MHProNews private equity real estate investment firm Green Courte Partners, LLC announces the promotion of Braden L. Rudoph to the post of Vice President, Asset Management. A senior associate since June 2011, Rudolph has been involved in acquisitions and asset management, and was involved in the company purchase of The Parking Spot, an airport parking property with 35 locations and 60,000 spaces. Through American Land Lease, Inc., which merged with Green Courte in Dec., 2008, the company owns and operates 50 land lease communities with 18,500 homesites. Rudolph has a Masters of Business Administration from the J. L. Kellogg School of Management at Northwestern University in Evanston, Ill.

(Image credit: Green Courte Partners, LLC)

2013 NCC Fall Leadership Forum Announced

April 10th, 2013 Comments off

Image Credit: NCC LogoMHI’s National Communities Council (NCC) has announced that it is expanding its current slate of networking and business building opportunities by creating a new flagship leadership and networking event to be held each fall.  The first annual NCC Fall Leadership Forum will be held On October 16-18, 2013 at the W Hotel in downtown Chicago, and this year’s theme will be “Building a Vision for the Future.”  NCC staff and leadership are developing an outstanding group of industry veterans and leaders as speakers and panelists as well as speakers from outside the industry.  Highlighting the inaugural event will be Sam Zell, Chairman of Equity Group Investments, as a featured speaker.

MHProNews spoke to NCC Chairman David Lentz, President and CEO of American Land Lease, Inc., who commented about the event, “We are thrilled that the NCC is finally able to take this big leap forward by hosting its new flagship event this fall. This is clear indication that the MHI/NCC staff leadership team of Dick Jennison and Jenny Hodge is now well beyond the recent transition and already having significant impact, and we look forward to more exciting announcements about the future direction of the NCC in the coming months.” ##

(Image Credit: NCC Logo)

 

Green Courte Acquires Fla MHC

June 4th, 2012 Comments off

MarketWatch reports Chicago-based Green Courte Partners, LLC announces the acquisition from CRF Communities of Plantation Landings, an MHC in Haines city Florida. The four-star 394 home site age-restricted community is fully leased, MHProNews.com has learned. In 2009, Green Courte’s second fund, Green Courte Real Estate Partners ll, LLC, purchased Royal Palm Village from American Land Lease, Inc., which is just north of Plantation Landings. As it is the principal manager of Green Courte’s manufactured housing portfolio comprised of over 18,500 home sites, American Land Lease will operate Plantation Landings as part of its age-restricted lifestyle brand, Solstice Communities. Green Courte’s chairman Randy Rowe, noting his desire to work with CRF in the future, says, “We are pleased to add this high-quality property to our existing portfolio of ’55+’ retirement communities in central Florida.” Terms of the transaction were not disclosed.

(Image credit: Green Courte Partners)

MHI Annual Award Winners and Board Officers

October 7th, 2011 Comments off

MHProNews has obtained the official list of award winners from the 2011 Manufactured Housing Institute (MHI) annual meeting held earlier this week in Phoenix AZ.

MHI’s Chairman Award: Tim Williams, President, 21st Mortgage Corporation

State Association Executive of the Year: Deanna Fields, Executive Director, Manufactured Housing Association of Oklahoma

Jim Moore Excellence in Communication Award: Ken Anderson, President, Arizona Housing Association

Frank Walter Standards Award: Michael Wade, Director of Manufacturing, Cavalier Homes, Inc.

The following members were reelected to serve as MHI officers for 2012: Chairman, Joe Stegmayer, Cavco Industries, Inc.; Vice Chairman, Don Glisson, Jr., Triad Financial Services, Inc.; Secretary, Kevin Clayton, Clayton Homes; and Treasurer, Nathan Smith, SSK Communities. Ken Cashin, Windstorm Holdings, Inc., will continue to serve on the Executive Committee in his role as Immediate Past Chairman.

In addition, David Lentz with American Land Lease, has been selected to serve as Chairman of the National Communities Council (NCC) for 2012.

(image credit: MHI)