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Posts Tagged ‘Hometown America LLC’

Urban Land Institute Chooses Randall K. Rowe as Chairman

July 1st, 2015 Comments off

randall_k_rowe__google_images__june_2015Randall K. Rowe, Chairman of Green Courte Partners, LLC has been chosen to lead a global organization dedicated to creating communities that are livable, economically prosperous and environmentally sustainable. As Global Chairman of the Urban Land Institute (ULI), an education and research non-profit founded in 1936, Rowe will have three primary responsibilities: promote knowledge sharing among the 35,000 members; funding; and continuing to spread the mission of the organization globally, since it has been a mostly U. S. focused organization.

ULI has this energy, this sense of possibility and strength that is very exciting. We are only beginning to realize the very real impact ULI can have around the world — the part our organization can play in creating communities that change people’s lives by making them better,” Rowe said. “We must keep the momentum going by offering new opportunities for engagement, to share lessons learned and exchange ideas about what works best. What we’re doing only has value if the knowledge gleaned is distributed, utilized and enhanced.

Key to global expansion of the Institute’s goals is shaping local land use decisions to the various societies and cultures that constitute the world, as MHProNews understands.

ULI Global Chief Executive Officer Patrick L. Phillips said, “We are very excited to have Randy at the helm. He is thoughtful, he is innovative, and he is a doer who will guide ULI to new levels of excellence in land use leadership,” according to prnewswire.

Rowe has a long history of involvement in numerous capacities at ULI, especially in the Chicago metro area where Green Courte is located. He has extensive experience in real estate investments, particularly in the acquisition and development of manufactured home communities (MHCs), at one time as CEO of Hometown America, LLC, and now with Green Courte.

In addition to several non-profit board memberships past and present, he also serves on the board of Sun Communities, Inc., an owner of 251 manufactured home and recreational vehicle communities. ##

(Photo credit: Google images–Randall K. Rowe)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Hometown America Adds A Thousand Acres

November 4th, 2011 Comments off

EnterpriseNews reports from Massachusetts that Hometown America of Chicago has purchased Oak Point MHC in Middleboro, MA for $55 million, making it the largest real estate transaction in Middleboro history. The 1,000 acre 875 homesite community has homes clustered in neighborhoods, and includes a ballroom, exercise facility, and club house. Hometown Vice President William Glascott says the company intends to increase the homesites to 1,175, and notes, “Certainly there are changes with any management transition. Our goal is to limit disruption, maintain level services and possibly improve.” Residents of the over-55 community as well as town assessor-appraiser Barbra Erickson, former selectman and planning board member Lincoln D. Andrews, and one-time planning board member Joseph F. Freitas, Jr., all had high praise for former principal owner Gary Darman with hopes the new owner will be as supportive of the community. “We want to be involved with the community, and we will evaluate everything when the time comes,” says Glascott. Hometown owns other MHCs in Massachusetts: Leisurewoods in Taunton, Leisurewoods in Rockland, Oakhill in Attleboro, and Miller’s Woods and River Bend, both in Athol. Earlier this year Hometown sold 76 of its land lease communities (LLC) to Equity Lifestyle Properties, its Chicago competitor, for $1.4 billion.

(Photo credit: EnterpriseNews)

ELS Reports Net Loss Q3

October 18th, 2011 Comments off

menafn reports Equity Lifestyle Properties (ELS) of Chicago announced a third quarter loss as of Sept. 30 of 0.07 per share, or $2.9 million on a fully-diluted basis. The same quarter 2010 saw a net income of $11.6 million, or 0.37 per share on a fully-diluted basis. Net revenue for third quarter 2011 was $161.4 million, up from $134.2 million same quarter 2010. As a major player in the real estate investment trust (REIT) market, and through its recent acquisition of communities from Hometown America LLC, ELS now controls over 140,000 homesites in North America.

(Graphic credit: ELS)

ELS Closes on 12,057 of Hometown’s 31,167 Home Sites

July 13th, 2011 Comments off

CoStar Group reports Equity Lifestyle Properties (ELS) (NYSE:ELS) has closed on 35 of the 76 manufactured home communities it is acquiring from Hometown America LLC.  These 35 properties represent 12,057 sites in seven states including Florida, Arizona and Michigan.  This $451 million purchase is part of a larger $1.43 billion acquisition of all 76 of Hometown’s communities by ELS.  The purchase was funded by issuing shares of common and preferred stock to the seller, as well as $418 million in cash.  The transfer of the remaining properties is expected to finalize by the end of the year.  The acquisition will give ELS over 140,000 home sites.

(stock photo)

ELS has Exceedingly High Share Trading Volume

June 21st, 2011 Comments off

TakeoverChatter reports that Equity LifeStyle Properties (ELS) is one of five companies to hit a 52-week high June 20.  The higher price may be the result of investors thinking the stock is undervalued, and their demand pushes the price higher.  ELS Chairman Sam Zell recently led his company in acquiring 76 Land Lease Communities from Hometown America for $1.4 billion.  Investors sometimes hear of company news that spurs the buying trend, and sometimes  investors are speculating.  Zacks says records show 1.1 million shares traded hands June 20, compared to a usual  30-day average of 366,000 shares a day.  ELS, the largest Land Lease Community (LLC) owner in the nation, closed today gaining .70 percent.

 

ELS Sells Stock to Fund New Acquisition

June 6th, 2011 Comments off

Benzinga says Keefe, Bruyette, and Woods report Sam Zell’s Equity LifeStyle Properties (NYSE:ELS) sold 6.1 million shares of stock at $59.50 per share grossing $359 million to help fund its acquisition of a chunk of Hometown America LLC.  As we reported here June 1, ELS acquired 31,167 home sites from Hometown America for $1.4 billion.