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Top National News


More 'Promise Zones' Coming Soon

HUD and the Agriculture Department have announced plans to designate another eight "promise zones" in U.S. urban, rural, and tribal communities. The goal is to foster economic opportunity and employment gains in poverty-stricken areas through grants and tax incentives to promote jobs, education, and housing in targeted communities. President Obama pledged last year to designate 20 such promise zones. There are currently only five.

From "More 'Promise Zones' Coming Soon" 
San Antonio Express-News (Texas) (09/19/14) Hagen, Lisa

Homebuilders Grow Bullish

The National Association of Home Builders/Wells Fargo builder sentiment index shows that industry confidence in the market for new, single-family houses has soared in September to the highest level in almost nine years. The more positive outlook reflects growing optimism that sales will gain steam over the next six months, which could stimulate growth in residential construction. The index climbed four points this month to 59, its fourth consecutive monthly increase and the highest reading since 61 in November 2005. Any reading above 50 indicates that more builders view sales conditions as favorable rather than unfavorable. The current optimism is in spite of a steady slowdown in new-home sales this summer. Sales dipped from a seasonally adjusted annual rate of 454,000 in May to a rate of 412,000 in July. At the same time, though, the volume is ahead of the 2013 pace.

From "Homebuilders Grow Bullish" 
Associated Press (09/18/14) Veiga, Alex

What HUD Secretary Julian Castro Says Needs to be Done to Boost Homeownership, and Cut Down on Rental Costs

New HUD Secretary Julian Castro has cited increased homeownership for all Americans -- including those with damaged credit -- as one of his main priorities. "It's time to remove the stigma associated with promoting homeownership," he declared in his first public policy speech, Sept. 16 at the Bipartisan Policy Center's housing summit in Washington. Castro also noted that lenders have been reluctant to widen access to credit since the mortgage crisis. "The truth is that the dream of homeownership is out of reach for too many Americans," he said, and pledged to work to preserve existing affordable housing. He also said he would strive to alleviate the affordability crunch in the rental sector. Castro additionally used his speech to show support for stalled legislation from Sens. Tim Johnson (D-S.D.) and Mike Crapo (R-Idaho) that would overhaul the nation's housing-finance system. The bill would dedicate billions of dollars every year to producing affordable housing, according to Castro.

From "What HUD Secretary Julian Castro Says Needs to be Done to Boost Homeownership, and Cut Down on Rental Costs" 
Washington Post (09/16/14) ElBoghdady, Dina

Here's Why Multifamily Growth Rules Housing

Freddie Mac's latest forecast shows that the country's multifamily housing sector is staging a strong rebound as single-family home building struggles to gain traction. Construction of buildings with at least five apartments hit the highest monthly construction pace since early 2006, according to the report. Additionally, all of the growth in net household formation over the last 12 months has come from renters. Researchers say the trend is also evident in the latest HUD and Census Bureau statistics. Almost all of the recent increase in housing permits was due to multifamily unit construction, which soared 24 percent to 382,000. Freddie Mac chief economist Frank Nothaft observes, "The apartment market has been vibrant, reflecting the desire of many Millennials to live in an urban setting and retain locational flexibility." Freddie Mac further notes that the decline in owner-occupancy has been mostly focused among younger households, with the homeownership rate of those 35 years and younger falling from 43.6 percent to 35.9 percent during the last 10 years. Nothaft concludes, "Unfortunately, if Millennials are looking to live in the larger cities, that's where rents are rising the fastest, especially in the West or Northeast regions of the United States, places like Los Angeles and New York City. In the South region, areas like Miami and the Washington-Baltimore metro have seen real rents exceed the U.S. average." In the Midwest, only metro Chicago has topped the national average.

From "Freddie Mac: Here's Why Multifamily Growth Rules Housing" 
Housing Wire (09/15/14) Swanson, Brena

Industry News


Capital Square Acquires 1,000+ Midwest Units

An affiliate of Glen Allen, Va.-based Capital Square Realty Advisors is the new owner of three Midwest manufactured housing communities. The acquisition of Timberbrook in Bristol, Ind.; Byrne Hill in Toledo, Ohio; and Woodlake-Sommerdale in Yoder, Ind., includes 1,141 rentable lots in all. "Manufactured housing communities are an attractive investment opportunity, with increasing demand a tight market given barriers to new construction across much of the U.S.," noted Capital Square CEO Louis Rogers. "There are a number of Americans that are either searching for a manufactured vacation home, or are seeking a new housing opportunity as traditional homeownership becomes economically unfeasible for a growing percentage of the population. Today, manufactured housing offers an affordable and high quality alternative." The company's vice president of acquisitions, Yogi Singh, disclosed that the portfolio was purchased in an "off-market deal with a publicly traded REIT" and hinted that similar deals could be in the pipeline.

From "Capital Square Acquires 1,000+ Midwest Units" 
GlobeSt.com (09/03/14) Rogal, Brian J.

Prototype Super-Efficient Manufactured Home Built in Bothell

In Bothell, Wash., Puget Sound Energy, Habitat for Humanity Seattle-King-County, and Bonneville Power Administration (BPA) have built a high-performance manufactured home. One of four prototypes in Washington State and Oregon, it features energy-saving technology including a ductless heat pump, heat pump water heater, efficient lighting, triple-glazed windows, and foam sheathing for exterior walls. "Manufactured homes built to this new high-performance spec have durability and performance features that could change opinions about factory-built homes and be an integral part of our super-efficient 21st century utility system," said Christopher Dymond of Northwest Energy Efficiency Alliance (NEEA). BPA, NEEA, regional electric utilities, and other partners are working with a number of Northwest-based manufacturers to demonstrate the advantages of high-performance factory-built homes. Compared to traditional manufactured homes, those constructed to advanced-performance specifications can save as much as 50 percent on heating and cooling expenses. "Beyond more affordable electric bills for the homeowner, the goal is to establish a new minimum building standard for manufactured homes," said Bob Stolarski of Puget Sound Energy. "Which means buyers will get a higher quality, more comfortable and more energy efficient home." There are roughly 500,000 manufactured homes in the Northwest. However, because many were made before current construction standards were implemented, having a more energy-efficient option could help area utilities meet upcoming energy conservation targets.

From "Prototype Super-Efficient Manufactured Home Built in Bothell" 
Bothell Reporter (09/05/14) Kehoe, Sarah

W&D Originates First Freddie Mac Manufactured Housing Loan

Freddie Mac's new manufactured housing finance program, just announced in the second quarter, has already pushed through its first loan. Walker & Dunlop originated the $10.5 million loan for Longhaven Estates, a manufactured housing community in Phoenix. The financing was put together on behalf of Oak Brook, Ill.-based Cobblestone Real Estate LLC and Toronto-based Tricon Capital Group. "The fact that Freddie Mac's very first MHC loan was underwritten, rate-locked and funded within the same time-frame [less than 45 days] of a typical multifamily loan displays Freddie Mac's commitment to this program," said W&D senior vice president Will Baker, who headed the team that structured the loan. Freddie Mac multifamily executive John Cannon, meanwhile, said the mortgage financier is targeting manufactured homes because they represent a key solution for affordable housing.

From "W&D Originates First Freddie Mac Manufactured Housing Loan" 
GlobeSt.com (08/28/14) Morphy, Erika

Crye Purchases Leahy's, Says Manufactured Housing in Demand

Real estate mogul Harold Crye, who helped to establish the largest property brokerage in Tennessee, has snapped up the Leahy's manufactured home community in Memphis. He paid $290,000 for the 80 lots on 12 acres, a solid investment considering what he says is strong demand for affordable manufactured housing. While local homes and apartments are renting for more than $1,000 per month typically, Crye reports that it costs only about $600 a month to rent a home at Leahy's and about half of that to rent a pad if a tenant has his or her own home. The Crye-Leike Realtors co-founder plans to make improvements to the property.

From "Crye Purchases Leahy's, Says Manufactured Housing in Demand" 
Memphis Commercial Appeal (09/05/14) Bailey Jr., Thomas

Contracts: Origen Financial Inc.

Southfield, Mich.-based Origen Financial Inc. has announced that it will dissolve and liquidate after selling its assets. The real estate investment trust, which manages interests in securitized loan portfolios backed by manufactured housing, has already found a buyer for its assets. An affiliate of GoldenTree Asset Management LP in New York City will pay $47 million.

From "Contracts: Origen Financial Inc." 
Crain's Detroit Business (09/21/14)

Centerline Capital Group Officially Renamed Hunt Mortgage Group

As part of its acquisition by Hunt Companies Inc. last year, Centerline Capital Group -- which offers real estate mortgage services for affordable and conventional multifamily housing -- has changed its moniker to Hunt Mortgage Group. Hunt provides financing for manufactured housing, student housing, co-ops, and affordable rental homes. "The acquisition of Centerline was extremely beneficial to Hunt as it enabled us to add a national mortgage-banking platform and significantly expand our affordable housing asset management business at the same time," said Hunt Cos. Chairman and CEO Woody Hunt.

From "Centerline Capital Group Officially Renamed Hunt Mortgage Group" 
New York Real Estate Journal (09/23/14)

Daily Business News Briefs

Drama in Ohio: Fake News, Facts and Myths

Drama in Ohio: Fake News, Facts and Myths

The ongoing battle between the Ohio Manufactured Housing Association (OMHA) and Ohio Governor John Kasich over the status of the Ohio Manufactured Housing Commission (OMHC) has been taken to a whole new level, with what informed sources  are calling “fake news.” According to a story from WOSU, Gov. Kasich wants to merge the OMHC with the […]...

26 Apr 2017

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Patrick, UMH Surge, Manufactured Housing CV Spikes, Broader Markets Dip

Patrick, UMH Surge, Manufactured Housing CV Spikes, Broader Markets Dip

Noteworthy headlines on – CNNMoney – Trump calls for dramatic tax cuts. Chobani sues Alex Jones over “migrant rapists” claim. Hilton to hire another 20K veterans and their families. FCC chair unveils plan to roll back net neutrality. Some bullets from Fox Business – Rep. Brady: Trump’s tax reform is “Bold.” Mnuchin: We’ll lo...

26 Apr 2017

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Trump Effect: Immigration, the Border Wall, and a $14 Billion Fix?

Trump Effect: Immigration, the Border Wall, and a $14 Billion Fix?

As the Daily Business News covered recently, President Donald Trump’s first 100 days have been a whirlwind of movement, including doubling down on his promises for immigration and building the border wall. At the heart of the conversation about building the wall is the cost, estimated to be $28 billion. While that price has raised […]...

26 Apr 2017

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Triad Financial Services Creates New Program Manufactured Home Dealers

Triad Financial Services Creates New Program Manufactured Home Dealers

Triad Financial Services, Inc. tells MHProNews that it has formed the Triad Manufactured Home Risk Purchasing Group (RPG) for manufactured home dealers. Triad says that it created the program in response to the increasing demand for affordable liability insurance for manufactured home retail dealers. In addition to the insurance savings, the...

26 Apr 2017

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UPDATE: MHC Future in Doubt, the Other Side of Rent Control

UPDATE: MHC Future in Doubt, the Other Side of Rent Control

In an update to the story that the Daily Business News originally covered here, residents at the Thetis Lake Campground community in View Royal, British Columbia, Canada, are facing an imminent threat. According to Western Investor, assessments on the community are threatening the viability of the most affordable housing option in the province,...

26 Apr 2017

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President Trump at 100 Days: Numbers, Polls

President Trump at 100 Days: Numbers, Polls

As President Donald Trump reaches the magic 100-day mark in office, new polling and statistics show that many American’s believe he’s getting the job done. According to Lifezette, approximately 73 percent of American voters approve of President Trump’s performance in fighting for American jobs in an ABC News/Washington Post poll released this past...

25 Apr 2017

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Patrick, LCI Leaders, Manufactured Housing CV Ticks Up, Monster Day for Bro…

Patrick, LCI Leaders, Manufactured Housing CV Ticks Up, Monster Day for Broader Markets

Noteworthy headlines on – CNNMoney – Bannon cleared to sell Mercer-backed holdings. Big techs push Nasdaq to new milestone. Outburst by Wells Fargo shareholder halts meeting. Undocumented immigrant population in steady decline. Some bullets from Fox Business – Ted Cruz wants El Chapo, Mexican drug lord, to pay for Trump’s w...

25 Apr 2017

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Modular Housing Visions are Looking Up in New York’s Big Apple

Modular Housing Visions are Looking Up in New York’s Big Apple

In an effort to tackle the affordable housing challenges in New York City, two designers have looked up, but not to build skyscrapers. According to Dezeen, Instant City: Living Air-Right, a plan created by designers Beomki Lee and Chang Kyu Lee, calls for using vacant airspace over existing New York buildings to create affordable modular […]...

25 Apr 2017

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Acquisition, and Rumors of a Billion Dollar Acquisition, for Hometown Ameri…

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

In Australia, manufactured home builder and community owner Gateway Lifestyle Group has seen significant growth since the Daily Business News reported a potential deal with Hometown America last August to purchase National Lifestyle Villages (NLV), Western Australia’s largest operator of manufactured home communities. At the time, the proposed d...

25 Apr 2017

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Keith Olbermann on Trump Supporters – Industry Reacts – When “Trailer Trash…

Keith Olbermann on Trump Supporters – Industry Reacts – When “Trailer Trash” Isn’t What You Think

In what is quickly becoming known as the “tweet heard ‘round the manufactured housing world,” former ESPN and MSNBC host Keith Olbermann’s reference to President Donald Trump supporters — former Presidential candidate Sarah Palin and musicians Ted Nugent and Kid Rock during their White House visit — as “trailer park trash” has set off a...

25 Apr 2017

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Manufactured Home Community Residents Reach Settlement In Legal Action

Manufactured Home Community Residents Reach Settlement In Legal Action

In Massachusetts, residents of the Chelmsford Commons manufactured home community have reportedly reached a six-figure settlement in a class action lawsuit against community owner, Michigan based RHP Properties. According to the Lowell Sun, the suit alleges that RHP improperly raised rents on residents over the last five years. As a result of the...

24 Apr 2017

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New Sponsors

Featured Articles and Reports - April 2017 Vol. 8 No. 7

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Proof! Manufactured Home Communities, Retailers & Builder/Developers Can A…

Proof! Manufactured Home Communities,  Retailers & Builder/Developers Can Attract, Sell Site Built Buyers

by L. A. ‘Tony’ Kovach What’s the difference between a nice sounding theory, and a profitable process?  Proof. NSP_READMORE

MARKETING

*** Price Reduction *** North Tampa Portfolio - MH & RV | 380 Sites | Flori…

*** Price Reduction *** North Tampa Portfolio - MH & RV | 380 Sites | Florida

by Christopher Nortley Portfolio Overview The North Tampa Portfolio consist of 3 communities in which 2 are located in Port Richey while the 3rd is located in Hudson, FL. All... NSP_READMORE

MARKETING

ELS Rises, Manufactured Housing CV, Broader Markets Dip

ELS Rises, Manufactured Housing CV, Broader Markets Dip

by RC Williams Noteworthy headlines on – CNNMoney – Mercedes-Benz pulls ads from The O’Reilly Factor. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

What’s the Truth About the Manufactured Housing Industry’s Potential?

What’s the Truth About the Manufactured Housing Industry’s Potential?

by Soheyla Kovach Whether or not truth is reported, or distorted, reality – the truth – is. Truth exists. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Manufactured Home Community’s Outsider Sparked Water Issues

Manufactured Home Community’s Outsider Sparked Water Issues

by RC Williams In Puyallup, Washington, the stereotypes surrounding manufactured versus site built housing are playing out in a less than ideal way. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

State Agency to Assist Low Income MH Residents

State Agency to Assist Low Income MH Residents

by RC Williams In Delaware, homeowners in need are going to get some help. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

State Law Forces City Decision on Manufactured Home Zoning

State Law Forces City Decision on Manufactured Home Zoning

by RC Williams In Queensbury, New York, manufactured housing has scored a victory. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Want Manufactured Home Community Voluntarily Rent Control, Anyone? Anyone?

Want Manufactured Home Community Voluntarily Rent Control, Anyone?  Anyone?

by RC Williams Officials in Corona, California, say that they may pursue voluntary rent control measures for manufactured home communities, in an effort to help low income and elderly... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

City Turns to Manufactured Homes in Project

City Turns to Manufactured Homes in Project

by RC Williams In Northern California, the city of Sebastopol is investing $258,000 into a project that establishes affordable housing for low-income residents at the city’s eastern gateway. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Manufactured Home Communities, Fair Housing, and Day Care

Manufactured Home Communities, Fair Housing, and Day Care

by Nadeen Green, JD The seven federally protected classes (race, color, religion, national origin, sex, familial status and disability) are hugely relevant (and reflective of the issues of discrimination... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Live Oaks & Blue Oaks MHP Portfolio | 170 Sites | Topeka, Kansas

Live Oaks & Blue Oaks MHP Portfolio | 170 Sites | Topeka, Kansas

by Christopher Nortley Property Overview MHRE Inc is pleased to present Live Oaks and Blue Oaks located in Topeka, Kansas. The communities are situated just 4.2 miles away from each other. NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Brian Gallagher, Chief Operating and Financial Officer, Santefort Real Est…

Brian Gallagher, Chief Operating and Financial Officer,  Santefort Real Estate Group - RFI - FHFA, Duty to Serve Comments Letter

by Brian Gallagher Editor’s note: Brian Gallagher thoughtfully shared the comments below with MHProNews for publication.  NSP_READMORE

FINANCING

Security Mortgage Group Setting Hot Pace in First Quarter of 2017

Security Mortgage Group Setting Hot Pace in First Quarter of 2017

by Pierce Redmond Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed $78,632,000 thus far in 2017 for several manufactured home communities nationwide. NSP_READMORE

FINANCING

NFIB Provides Vital Small Business Guide

NFIB Provides Vital Small Business Guide

by RC Williams The National Federation of Independent Business (NFIB) is out with its 2017 Small Business Tax Guide. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Moves In U.S. Home Price Index

Moves In U.S. Home Price Index

by RC Williams New data from Case-Shiller shows that January home prices rose at the fastest rate since 2014. While this spells a win for sellers, it could eventually... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Media, MHI Members Welcomed, Industry Warned

Media, MHI Members Welcomed, Industry Warned

by Soheyla Kovach At the 2017 Tunica Manufactured Housing Show, members of the Manufactured Housing Institute (MHI), and the industry’s top trade media were welcomed – without cost – by... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Sunday Morning Weekly Recap Manufactured Housing Industry News March 26th 2…

Sunday Morning Weekly Recap Manufactured Housing Industry News March 26th 2017 to April 2nd 2017

by RC Williams Our theme for our April 2017 issue is: Manufactured Housing Industry Politics – Complicated Cross Currents, or April Fools? NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Cavco’s Buyout

Cavco’s Buyout

by RC Williams Cavco Industries Inc. (NASDAQ:CVCO) tells MHProNews that it has signed a Letter of Intent, and has reached an understanding, on terms to acquire Lexington Homes, Inc. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

April Fools? – MHVille’s Complicated Politics, 2017

April Fools? – MHVille’s Complicated Politics, 2017

by Soheyla Kovach Three april fools looking at camera with different expressions, credits, MHProNews.com/GraphicStock. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

ELS’ Sam Zell Sounds Off on Trump’s Wall

ELS’ Sam Zell Sounds Off on Trump’s Wall

by RC Williams ELS Chairman and billionaire real estate mogul Sam Zell shared his thoughts recently on President Donald Trump’s plan for the border wall with Mexico, and what... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

City Residents Make Unexpected Moves – Opportunity for MH?

City Residents Make Unexpected Moves – Opportunity for MH?

by RC Williams New data shows an interesting trend – popular cities like New York, Los Angeles, and Washington D.C., normally destinations for living, are actually losing people in... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Diverse Industry Reactions to Manufactured Home Community Closure Issue

Diverse Industry Reactions to Manufactured Home Community Closure Issue

by RC Williams In Chesterfield, Missouri, residents of the town’s only manufactured home community received some very shocking news this week. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Chicago’s Mayor Favors Massive Modular Project

Chicago’s Mayor Favors Massive Modular Project

by RC Williams In a follow up to a story that Daily Business News originally covered here, Chicago Mayor Rahm Emanuel is “gung ho” about developers planning to build 12,000 modular homes,... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Developers Going MOD in Housing Crisis

Developers Going MOD in Housing Crisis

by RC Williams In Baton Rouge, Louisiana, two developers have turned to modular housing to ease the stress of finding housing. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Barry and “Be the Change!” Doing Good, Pays

Barry and “Be the Change!” Doing Good, Pays

by L. A. ‘Tony’ Kovach We decided this month to highlight a simple yet profound reality. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Is What You Say Always Consistent with What You Believe?

Is What You Say Always Consistent with What You Believe?

by Tim Connor, CSP There is a Native American legend that says - you will only get into Heaven leaning on the shoulders of someone you helped while you... NSP_READMORE

PERSONAL REFLECTIONS, MOTIVATION and INSPIRATION

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Classifieds

Press Releases

Triad Financial Services Inc., Announces…

Triad Financial Services Inc., Announces Formation of Triad Manufactured Home Risk Purchasing Group for Manufactured Home Dealers

Jacksonville, Fla. (April 21,2017) – Triad Financial Services, Inc (Triad) has been providing services to the manufactured home industry for over 50 years. During this time, Triad has incorporated various services to better assist those in the manufactured home industry. In 2016, Triad created a Risk Purchasing Group (RPG) in response to the increasing demand for affordable liability insurance for manufactured home retail dealers. In addition to insurance savings, the program will provide periodic loss prevention and risk management tips and information. In addition to the general liability program, Triad’s insurance division provides competitively priced inventory open lot coverage, commercial property coverage, commercial auto insurance, coverage for contractors equipment, as well as access to a national homeowners program for manufactured housing. Recent changes in the manufactured home general liability insurance markets have...

the MHMSM Team 26 Apr 2017 Corporate Press Releases

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Call for Nominations for the RV/MH Hall …

Call for Nominations for the RV/MH Hall of Fame Class of 2018

ELKHART, Ind., -- It's still six months until the October 31, deadline for nominations for the RV/MH Hall of Fame Class of 2018, and Darryl Searer, president of the RV/MH Heritage Foundation (Foundation) wanted to remind those considering nominating someone that they should start working on their nomination. Searer said, "Even though we are intensely planning for the induction dinner celebration for the Class of 2017 on August 7, 2017, it's really not too early to start the process of nominating a deserving individual to the Hall of Fame for the Class of 2018. It's a lengthy process that should not wait until the last minute, so I urge those who are considering a nominee to download the guidelines and forms so their nominee can be considered for the Class of 2018." The nomination...

Soheyla Kovach 21 Apr 2017 Corporate Press Releases

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*** Price Reduction *** North Tampa Port…

*** Price Reduction *** North Tampa Portfolio - MH & RV | 380 Sites | Florida

Portfolio Overview The North Tampa Portfolio consist of 3 communities in which 2 are located in Port Richey while the 3rd is located in Hudson, FL. All the communities have very desirable locations and convenient for an owner to have centralized management to create economies of scale. The trailing cap rates as a portfolio are in the 6.06% to 8.09% range while the year 1 pro-forma cap rates are in the 7.09% to 8.58% range.  This portfolio is a perfect opportunity for an investor to capitalize on the strong demand and growth occurring in Florida while being able to create economies of scale with a purchase of 380 sites. Portfolio Summary Investment:              3 Property Portfolio Star Class:               2-3 MH Sites:                 70 RV Sites:  ...

the MHMSM Team 04 Apr 2017 Corporate Press Releases

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SECURITY MORTGAGE GROUP Finances $78,632…

SECURITY MORTGAGE GROUP Finances $78,632,000 in the First Quarter 2017

ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed $78,632,000 thus far in 2017 for several manufactured home communities nationwide. The most recent March closings included the following: Managing Director, Gerard D. DiMarco, Jr., secured acquisition financing for two manufactured home communities totaling 192 sites in Wyoming. The $4,750,000 loan featured a limited prepayment penalty and flexible lending terms. Gerry also helped negotiate financing for a repeat client’s purchase of a 184-site mobile home and RV park in Corpus Christi, TX with a non-recourse loan of $2,445,000.  Anthony J. DiMarco, the other managing director, helped negotiate financing for a repeat client’s Ohio and Kentucky MHC Portfolio with over 700 sites. The $26,025,000 non-recourse loan featured a long-term fixed rate.   In addition, Anthony closed a...

the MHMSM Team 04 Apr 2017 Corporate Press Releases

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Live Oaks & Blue Oaks MHP Portfolio | 17…

Live Oaks & Blue Oaks MHP Portfolio | 170 Sites | Topeka, Kansas

Property Overview MHRE Inc is pleased to present Live Oaks and Blue Oaks located in Topeka, Kansas. The communities are situated just 4.2 miles away from each other. Together, there are 170 MH sites. Blue Oaks has 8 park owned homes, of which 5 are occupied. It has strong employment next door with two distribution centers for Target and Home Depot. Live Oaks has 11 park owned homes, of which 4 are occupied. This community is in an excellent location with great road frontage and heavy traffic count, and it is near the university and other various businesses. The current owners have put in time and effort to clean and fix up the communities. They repaired and replaced the underground utility lines and fixed up the roads. The market for rentals is available,...

the MHMSM Team 04 Apr 2017 Corporate Press Releases

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Sizzling Sunshine Homes! @ Tunica Show …

 Sizzling Sunshine Homes! @ Tunica Show = Exclusive “Total Package” for More Sales for Retailers, Communities, and Builder/Developers

Business is BOOMING at Sunshine Homes!  Retailers, communities, and builder/developers are watching homes sell fast and at good margins.  Let’s review some of the reasons. As important as great homes are, what we do to support our independent retailers and communities that compliments those sizzling model homes in your inventory can mean the difference between okay sales, and homes that turn several times a year. First, if you’re ready to attract more customers that pay cash or has good credit, look no further than Sunshine Homes.  Our Energy Star ™ rated homes are residential designs that impress and sell previous owners of conventional homes.  You can have floorplans ordered either as a HUD Code manufactured home, or as a state coded modular home. Award-winning Stan Dye of Star Homes says that 99% of...

the MHMSM Team 24 Mar 2017 Corporate Press Releases

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