Industry Happenings

from January - February 2022

Economic Review and Outlook in Q&A with First Trust Advisors

Happenings Industry HAPPENINGS

Transactions RHP Acquires Penn., Wisc. Communities

RHP Properties, the nation's largest private owner and operator of manufactured home communities, has purchased Bonneau Heights in Gettysburg, Penn., and a set of communities in Wisconsin. The all-ages, 45-site, pet-friendly property is RHP’s 12th in Pennsylvania, located 10 miles from downtown shops, restaurants, and other amenities. The company also acquired Holiday Park I and II, both located in Stevens Point, Wis. The purchase expands RHP’s Wisconsin portfolio to 12 communities and brings the company's total of manufactured home communities to 301.

Green Courte Purchases Communities in New York

Green Courte Partners, LLC, a private equity real estate investment firm, has acquired a portfolio of four land-lease communities with about 700 existing home sites in the greater Rochester, N.Y. area, increasing the organization’s presence in the industry to 21 communities and 7,500 sites, including approximately 1,900 homesites in the Rochester market. The Rochester acquisition includes vacant land adjacent to two of the communities that can accommodate approximately 120 added home sites.

Modular Builder Opens New Facility in California

A modular home builder, Plant Prefab Inc., has opened a new home building facility in Kern County, Calif., to bring high-quality, environmentally-friendly homes to market faster and more cost-efficiently than standard site-built construction. “Right now, it’s hard to get buildings built on time,” Plant Prefab Vice President Josh Tech said. “With our building system, we actually can do things much better, at a better quality than you can do at the site.”

Yale Closes on Toledo-area Portfolio

Yale Realty and Capital Advisors closed on a 143site, fully owner-occupied manufactured housing community portfolio, Yale Midwest Regional Director James McCaughan said. The two institutional-quality properties comprising this $8.45 million portfolio have established infrastructure and easy access to public utilities. The community represents a unique opportunity to substantially expand by 150 sites in

an area experiencing strong population, income, employment, and property value growth.

Four Leaf Properties Acquires Two Ohio Manufactured Home Communities

Illinois-based Four Leaf Properties has acquired Dover Glen in Wauseon, Ohio, and West Unity Estates in West Unity, Ohio, adding 188 sites to the portfolio. Both communities are family and pet-friendly, offering small-town living with a short commute to Toledo. They are the first Ohio communities in the portfolio, Four Leaf’s Michael Callaghan said. Cost efficiencies within homes at the new communities include Ecobee smart thermostats, Energy Star appliances, and new home warranties. All residents also enjoy FLP Life, the resident lifestyle experience that includes events, clubs, and parties.

MHP Inc. Purchases Four Parks

Manufactured Housing Properties Inc. acquired four manufactured housing communities in the Columbia, S.C., market since mid-2021. The communities are Anderson, Capital View, Hidden Oaks, and North Raleigh. Anderson is a collection of small communities with 179 homes, while Capital View and Hidden Oaks have 32 and 43 lots, respectively. North Raleigh is comprised of five manufactured housing communities totaling 137 lots.

Capital Square 1031 Acquires Florida Retirement Communities

Delaware-based Capital Square 1031 has acquired a 4.5-star, 55+ manufactured home community in Lakeland, Fla. The community, Twin Palms, has 222 homesites on 32.88 acres located near Interstate 4 and U.S. Highway 92 with access to Tampa and Orlando. Twin Palms offers residents a heated pool, horseshoe and shuffleboard courts, and a clubhouse with billiards, ping-pong, darts, and more.

Capitol News OMHP Extends Industry-Wide AC Letters

The Office of Manufactured Housing Programs has issued extensions for two industry-wide Alternative Construction letters for exterior doors and 25-amp circuit breakers through June 30. The Manufactured Housing Institute worked with OMHP in light of the supply chain challenges to get schedules for the AC »

letters extended. These industry-wide letters support manufacturers that need the flexibility to continue the production of affordable housing, saving time and costs that otherwise would be incurred.

Industry Giving Retailer Provides $10,000 Gift to N.M. Nonprofit

Valley Homes, a manufactured home retailer in Las Cruces, N.M., celebrated its second anniversary in November by donating $10,000 to the Mesilla Valley Community of Hope. Valley Homes owners Craig Bullock and Elizabeth Driggers and their two children, Jack and Maggie, presented the check to Community of Hope Executive Director Nicole Martinez. “Just like the Community of Hope, we're invested in upward mobility for our neighbors and we're proud to celebrate our second anniversary by supporting the incredible work MVCH does in our community. My wife and I were born and raised in New Mexico and we look forward to raising our two children here as well. We're fortunate to be in the position to help out, especially as we head into the holidays and the season of giving,” Bullock said.

Craig Bullock and Elizabeth Driggers of Valley Homes present a check to Community of Hope in Mesilla, N.M. Yes Helps Residents During Holiday Season

Yes Communities donated $10,000 to five resident families based on nominations from community and regional management teams ahead of the holiday season. Resident families were selected on criteria of need and positive standing within their local community.

“Each holiday season and throughout the year, Yes is committed to giving back to our residents,” Yes CEO Steven Schaub said. “I’m immensely proud of the work that is done through the Yes We Care program, and we are planning to grow this crucial program next year and beyond.”

The donations are distributed via a charitable program that has invested more than $430,000 in assistance to deserving residents, local organizations, and team members.

“We were so excited to present Donna, a long-time resident in our community with $2,000 to help her celebrate Christmas with her family this year. She was thrilled to receive the check and we were happy that we could help alleviate the expenses at such an important time of year. At Yes we believe residents are family,” Yes Regional Manager Claudia Flores said.

Community Owner Donates $10,000 to Address Childhood Hunger

RHP Properties donated $10,000 on GivingTuesday to No Kid Hungry, the only national campaign committed to ending childhood hunger in the U.S. In the wake of the coronavirus, millions of children in the United States continue to face hunger, as many as one in six kids. Through a combination of emergency grants, strategic assistance, advocacy, and awareness, No Kid Hungry is helping kids, families, and communities get the resources they need.

Personnel Three Pillar Communities Hires Ahead of Fund Launch

Three Pillar Communities has hired Mike Skoczylas as chief financial officer, Jack Walls as director of manufactured home sales, and George Han as acquisitions manager. Skoczylas is a licensed CPA and attorney with expertise in commercial real estate finance, tax, and accounting. Walls previously

managed manufactured home sales at Investment Property Group, a major owner of manufactured housing communities in the Western United States. Han brings experience as an institutional real estate investor at AIG, as well as real estate private equity experience working with partners such as Oaktree Capital. “Because there's such strong demand for affordable housing, we are rapidly scaling up our business, and in order to keep delivering the results that our residents and our investors expect, we knew we needed to bring that next level of professional talent on board,” said Three Pillar Communities co-founder Daniel Weisfield.

In Memoriam Manufactured Housing Loses Longtime Leader

William Wade Matchneer III, former director of the Manufactured Housing Program for HUD, passed away Dec. 18, 2021. Mr. Matchneer had been diagnosed with multiple myeloma in 2003 and given three years to live. For 18 years, he continued to prove that prognosis wrong, never taking a leave of absence from work for medical treatment. He worked uninterrupted for the Occupational Health and Safety Review Commission in Washington, D.C. through two stem cell transplants and continued working for the U.S. Department of Housing and Urban Development. Mr. Matchneer earned his J.D. from St. John's University School of Law and held a B.A. (summa cum laude) from Pace University. He retired to Pittsburgh from the Federal Reserve Bank in 2014 and joined the law firm of Bradley Arant Boult Cummings. Mr. Matchneer was an avid Ohio State Buckeyes football fan and enjoyed Formula One racing, fly-fishing, and spending time at the family's summer home in Brookville, Pa. He is survived by his wife of 37 years Laurie Matchneer, his step-son Brian (Lisa) Pieczko Jr., his sister Nell (Doug) Schiavi, his brother Rick (Angela) Matchneer, his stepsister Catherine (Wayne) Bardsley and his in-laws David (Joan) Bardsley. In lieu of flowers, donations in memory of Bill should be sent to: UAMS Foundation, 4301 West Markham, Slot #716, Little Rock, AR 72205, Designation-Myeloma Research. Cavco Industries Mourns Loss of Longtime Team Member

Rafael Lozano, Jr., 60, of Lakeland, Fla, passed away Aug. 9, 2021. He had worked in the painting and exterior departments at the Palm Harbor Homes manufactured housing facility in Plant City, Fla., for nearly 20 years. Mr. Lozano’s friendliness and skills will be deeply missed by his team members. He married his favorite dance partner, Macrina Lozano, who he met at a dance when they were just kids. They celebrated their 40th anniversary in May 2021. He had four children, Griselda, Rafael, Evelyn, and Cindy, who thought the world of him because of all he had built in his life. Born in Matamoros, a city in Tamaulipas, Mexico across from Brownsville, Texas, Mr. Lozano forfeited his formal education early in life to help provide for his family. He learned as many trades in a variety of fields as quickly as he could. He worked until the last minute. Most importantly, Mr. Lozano understood the power of building and maintaining relationships in his life. He enjoyed spending time with family and friends, doing cookouts with a beer in his hand and his music blaring so everyone could have a good time. Right before his passing, Mr. Lozano rekindled his relationship with one of his brothers, honoring his father's dying wish. That rekindled relationship allowed many of the extended family to reconnect and, through that, a legacy lives on. Mr. Lozano is survived by five grandchildren, other siblings, nieces, and nephews. Mr. Lozano is buried in Hopewell Funeral Home & Memorial Gardens next to his father, mother, and aunt.