Archive

Posts Tagged ‘kort & scott’

Huge Lo$$ “Squalor” Reported, MH Community Owners Hit with 8 Figure Judgment, Video and Report

November 29th, 2018 Comments off

 

HugeLo$$SqualorReportedAsKortScottMHCommunityHit8FigurejudgementVideoReportDailyBusinessNewsMHProNEws

There is no joy for a pro-manufactured housing trade media to report any bad news about problematic cases. But ignoring bad news is debatably worse for the industry than not stating what the facts, concerns, and often mainstream media reports reflect. In this case, the jury has ruled.

 

As the late Howard Walker – ELS Vice Chairman – once said, if there is bad news, get it out there.  If there is good news, get it out there. At a minimum, that practice enhances credibility.

With that understood, the sad saga of Kort & Scott’s Friendly Village manufactured home community has turned the page on its latest chapter. “A Los Angeles County jury has awarded $34 million in damages to 51 people who live or used to live in a troubled Long Beach mobile home park1 that residents say has been decaying for years without repairs,” per the left-coast’s LA Times. 

The video below tees up the issues, prior to the ruling, from the perspective of local media.

 

 

The damages, issued Tuesday, come a week after the jury hit the mobile home park owners with a $5.5-million judgment for negligence and violations of the state’s mobile home residency laws, said Brian Kabateck, an attorney for the current and former residents,” wrote Javier Panzar for the LA Times.

 

Jury Awards Millions to Residents in Suit Against Controversial Community Operator

 

A prior report on the Daily Business News on MHProNews – which outlined the original 5.5+ million dollar judgment, along with numerous additional case and background details – is found at the link above.

Kabateck said that 120 more cases are set for trial in 2019.  All but four residents are still living at Friendly Village, and they plan to use case proceeds, once collected, to move.  Collection of the judgment, of course, is another question. For more insights on that, not noted in the LA Times or video reports linked above, see the linked MHProNews report above.

HowardWalkerPhotoELSViceChairmanManufacturedHomeCOmmunitiesManufacturedHousingInstituteExecCommitteeMemberQuoteTransparencyMHProNews

Thoughtful words, worth pondering. 

 

Issues like this troubling one from LA in one of the top ten manufactured home states are among the many that the national association in Arlington, VA routinely fails to publicly grapple with. In doing so, they arguably dishonor the memory and wisdom of their former MHI Executive Committee board member’s advice.

MHARRAugust2018ManufacturedHousingProductionReportTop10StatesDailyBusinessNewsMHProNews

California is the #7 state in the U.S. for the shipment of HUD Code manufactured homes. Nettlesome cases like this arguably are among the reasons why a state that has such a huge need for affordable housing, nevertheless isn’t seeing more new manufactured home sales.

See the tangentially related report about the need for reliable information, linked further below. “We Provide, You Decide.” © (News, analysis, and commentary.)

Footnote 1: The terminology miscue is in the original report.

NOTICE: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Re-sources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

Related Reports:

Crisis of Misinformation, Fact Checks, and Manufactured Housing

MHARR Releases Study Recommending Independent Collective Representation for Post-Production Sector

Nathan Smith, SSK Communities, and Manufactured Housing Institute (MHI) Slam New National Manufactured Home Communities Group in Written Statement

 

 

 

 

 

Capital One Provides Loan for Purchase of Calif. Manufactured Home Community

January 6th, 2016 Comments off

Calif__sierra_mobile_home_park_santa_clarita__mhphoa__creditA press release from Capital One reveals it has arranged a $3.27 million Fannie Mae adjustable-rate loan for the purchase of Sierra Mobile Home Park in Santa Clarita, California. The seniors-only community has 74 home sites and features a clubhouse, pool and laundry room.

Senior Vice President Chad Thomas Hagwood, the head of Capital One Multifamily’s Southeast office in Birmingham, Ala. originated the transaction. The seven-year loan has a three-year interest only period with amortization on a 30-year schedule.

Sierra Mobile Home Park was built in 1956 and has been in the hands of the same owner for 50 years. The borrower intends to increase occupancy and adjust rates to market levels as it aims to increase its net operating income (NOI).

Separately, MHProNews has learned from MHPHOA that Kort & Scott Financial Group (KSFG) purchased Sierra in Oct. 2015, managed by Sierra Corporate Management, and that site rents are $650/mth. In a phone call, Capital One would neither confirm nor deny that KSFG is the current owner.

MHPHOA (Mobile Home Park Home Owners Allegiance) is a grass roots organization that advocates on behalf of residents of manufactured home communities. ##

(Photo credit: Google Earth/MHPHOA–Sierra Mobile Home Park)

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