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Near Half-Billion Deal for Gateway LifeStyle, Details Beyond News Release

June 13th, 2018 No comments
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Original photo from Gateway’s website, montage by MHProNews.

Australia’s Gateway Lifestyle Group (GTY.AX) announced that it has received a non-binding offer for acquisition.  Hometown Australia Holdings Pty Ltd., and Hometown America Communities Ltd. Partnership proposal values the company at A$635 million (US$480 million), according to Reuters.

 

Hometown is offering $2.10-per-share through its local arm, to buy out Gateway Lifestyle Group operator in its entirety, per the Financial Review.

Gateway stated that it has not granted due diligence access yet, and that the proposal is subject to approval by the Australian foreign investment regulator.

The Daily Business News has been tracking the blooming manufactured housing and “manufactured home estates” business in Australia for some years.

Their industry does have ‘a younger’ feel than what is found in the U.S., even though much of it is geared toward senior living.

Note the two government videos, posted above and below. Each of which discusses the “land down under” versions of manufactured homes, and their style of land-lease community living.

 

A Gateway investor package from 2-2018 is linked here.

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From Gateway investor page on this date.

It is a fast-growing sector, with listed players such as Gateway and Ingenia, along with Hometown Australia Communities. Gateway generates earnings from the development sales of new homes and the ground rent from its growing portfolio,” said the Financial Review.

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Hometown is a subsidiary of Chicago-headquartered Hometown America Communities, with assets of more than #US3 billion,” they said.

Hometown’s Saddlebrook Farms, located in Gray’s Lake, IL was recently awarded that state’s community of the year award.

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Saddlebrook, as some MH professionals know, was established by industry visionary, Chuck Fanaro, who also held an interest in upscale HUD Code and modular home builder, Hi-Tech Housing Inc, in Bristol, IN.

The Gateway-Hometown deal – if approved and finalized – would be backed by Calzada Capital. They are “a global real estate investment firm with more than $US9 billion in assets under management,” said Financial Review.

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Prior reports on this blossoming part of the international manufactured housing market are linked from related reports, further below. ## (News, analysis, and commentary.)

(Third party image, and/or content, are provided under fair use guidelines.)

Related Reports:

Acquisition, and Rumors of a Billion Dollar Acquisition, for Hometown America

http://www.MHProNews.com/blogs/daily-business-news/gateway-lifestyles-going-public-as-mh-living-becomes-more-popular-down-under/

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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.

 

Publisher Rebuked! Doubting Doctor, Skeptic Stunned!

April 18th, 2017 Comments off

ASharpRebukeLindseyJohnBostickStanPoseyMickeyDickEnnisDrHeatherShortStanDyeManufacturedHomeLivingNewsIn the latest episode of the popular Inside MH Road Show series, a doubting doctor and a real estate professional are among those featured in the interviews.

The manufactured housing industry often – and understandably – touts to lawmakers and public officials that the industry provides safe, quality housing for people of low income. Given the growing affordable housing crisis, that makes sense.

As award-winning manufactured home retailer Stan Dye has said, the industry has always served that niche, and should continue to do so.

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Stan Dye, Star Homes, Cullman AL. Photo credit, still from Inside MH Road Show video.

But Dye points out that most of their location’s buyers have previously owned a site-built house.  The entry level VOG (vinyl over gypsum) isn’t what those upscale shoppers are looking for; qualified buyers usually want a home that looks residential. 

As several recent reports have highlighted, there are trillions of dollars in opportunities for providing homes to those in the middle and upper classes.  While a VOG style house might be selected by that demographic group, the far likelier option is for well-qualified home seekers to purchase a residential style manufactured home.

Want to watch the publisher get rebuked?  Want to see what the skeptical doctor had to say? The latest episode of the Inside MH Road Show is linked here. ##

Image credit is as shown above.

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.