industry HAPPENINGS

Transactions

Texas ‘Ranch’ Community Provides Modern Manufactured Homes

Rockrose Ranch at Lake Conroe, a 700-home community in Willis, Texas had its grand opening in the spring. The offering from Inspire Communities sits on 170 acres west of I-45, and is a gated active adult village with a section of homes open to all ages. Rockrose Ranch has homes from $110,000 to about $220,000 and floor plans ranging from two to three bedrooms, two bathrooms, front porches, and open-concept living areas. “Our goal for Rockrose Ranch is to redefine housing for lifestyle communities. The structural quality of manufactured housing today far exceeds traditional site-built homes, and the finishes of new manufactured homes are virtually indistinguishable,” Inspire Communities CEO Rick Andreen said.

UMH Buys Ohio Property to Develop New Community

UMH Properties, Inc. has acquired a 30-acre parcel in Perrysburg, Ohio, for $2.3 million. The land is fully entitled for the development of 115 manufactured home sites. The land is adjacent Meadows of Perrysburg, a 196-homesite community that is approximately 95 percent occupied. Site rents in the area average $500 per month and new homes will be $150,000. “This entitled land provides us with a pipeline of new sites to generate profitable sales and should result in improved operating results. The purpose of this acquisition is to support our long-term strategy of growing the company through the infill of our 4,000 vacant sites, the development of our vacant land, and the growth of our sales and finance operation,” UMH President Sam Landy said.

Green Courte Partners Expand New York Community

Green Courte Partners, with the help of a bridge loan from Associated Bank, will expand Penfield Farms, a manufactured housing community in Rochester, N.Y. The project involves acquiring neighboring communities, East Avenue and Forest Lawn, resulting in a total of 716 homesites and allowing consolidation of operations and investment in infrastructure and amenities. Green Courte Partners, based in Chicago, is building a portfolio of manufactured housing communities through its real estate funds, including 23 properties under the Windward Communities brand. They also own and operate The Parking Spot and are developing active-adult and independent-living senior housing communities.

More Expansion for Flagship Communities

Flagship Communities has purchased three communities in Indiana, Arkansas, and Tennessee for about $21 million. The acquisitions have an average occupancy rate of 67 percent. “These acquisitions align with our strategy to increase our presence in our core states to enhance efficiencies and achieve economies of scale,” Flagship Communities President Kurt Keeney said. “These properties are located in highly desirable, high-growth areas and are expected to generate above-market growth.”

Invesco Real Estate Announces Homestead Communities

Invesco Real Estate, a global leader in the real estate investment management business, has launched Homestead Communities, dedicated to addressing the affordable housing crisis in the U.S. by providing safe, clean, and supportive communities for working families and retirees where they can own or rent affordable, high-quality, single-family manufactured homes. The platform strengthens Invesco Real Estate’s commitment to the growing manufactured housing sector and enhances the firm’s speed-to-market, scale, and performance across growth markets nationally. “The manufactured housing industry is a strategic priority for Invesco Real Estate given it is a niche asset class with a strong track record of net operating income resiliency amid market volatility,” Invesco Real Estate’s Bert Crouch said. “As a part of our broader strategic initiative around vertically integrating operating companies... we believe Homestead Communities will allow us to capitalize on secular tailwinds and achieve operational efficiencies.”

Personnel

NCCER Names New Director

The National Center for Construction Education and Research has announced that Dr. Melissa L. Perkins, a certified fundraising executive, has joined the organization as the new director of philanthropy and partnerships. As a 501(c)(3) nonprofit organization, NCCER relies on philanthropic investments from corporations, foundations, and individuals to advance its mission. The need to provide rigorous and relevant workforce development solutions for the construction industry is central to national economic growth.

Industry Giving Michigan Community Operator Reaches Milestone in Giving

RHP Properties has provided a pair of $10,000 donations to support educational initiatives at Lincoln Elementary School in Ogden, Utah and Berkeley Lake Elementary School in Duluth, Ga., marking the 10th school RHP has adopted. The partnership with AdoptAClassroom.org has resulted in $100,000 in support for schools serving students who reside in RHP Properties’ manufactured home communities. The funds will be used to purchase essential basic supplies such as pens, glue, tape, pencils, notebooks, paper, and folders in addition to books and curriculum and STEM education materials such as science lab equipment, robotics kits, and supplies. »

Clayton Empowers Communities Through Team Member Volunteerism

Clayton Impact is a paid volunteer time-off program that enables team members to support causes they are passionate about and make a positive impact in their communities. The program garnered impressive participation in its first full year, with more than 35 percent of team members volunteering nearly 45,000 hours in hundreds of communities.

Clayton team members have utilized their volunteer time off in powerful ways to support a variety of causes, from building or repairing homes for underserved community members to helping local food banks and children’s hospitals. These volunteer efforts demonstrate a commitment to making a difference in the lives of others. “At Clayton, we believe in investing in our communities and delivering positive experiences for our team members,” Clayton Director of Philanthropy Susan Brown said. “We are proud of the impact our team members have made through the company’s paid volunteer time-off program, Clayton Impact, and look forward to reaching even more communities in 2023. We will continue to expand our philanthropic efforts to empower families and communities to overcome challenges, achieve housing stability, and positively impact the planet we call home.”

In Memoriam Texas Mourns the Passing of Longtime Professional

William Franklin Hopkins, Jr. passed away on March 13 at his home in Texas. Mr. Hopkins was born Dec. 18, 1932 in Houston to William Franklin Hopkins, Sr. and Marjorie Frances (Ratliff) Hopkins. Mr. Hopkins attended Paschal High School in Ft. Worth and graduated from the University of Texas at Austin in 1954. He worked in sales with two industrial manufacturing firms and spent several years in the manufactured housing industry. Later he owned and co-owned two businesses. Mr. Hopkins enjoyed sailing and was a Fort Worth Boat Club member at Eagle Mountain Lake. He and his wife Karen were long-time Christ Chapel Bible Church members where they sang in the choir, attended The Harvesters Sunday School class, and participated with the creative arts team in their bi-annual musical outreach productions.

North Carolina Industry Professional Passes Away

Al Randall, a longtime finance company member, passed away March 20. Mr. Randall supported and served the North Carolina Manufactured Housing Association, volunteering his time and participating in most every association event. His humor and personality would brighten the room and make everyone feel comfortable. Services were held at Waters-Powell Funeral Home in Florence, S.C.

Fleetwood Executive, Hall of Famer Remembered

Walter Hughes, Sr. of Union Hall, Va., passed away on April 16. Mr. Hughes began his career with Fleetwood Homes in Douglas, Ga., in 1968, and over the years worked at several plants. Mr. Huges ultimately was the general manager of Fleetwood Homes of Virginia, in Rocky Mount, Va., starting in 1980 where he remained until his retirement in 1994. He was an integral part of the manufactured housing industry in Virginia, helping to establish the Virginia Manufactured & Modular Housing Association where he served as the first chairman and went on to serve on the Board for 14 years. Mr. Hughes was inducted into the Virginia Manufactured Housing Hall of Fame and the RV/MH Hall of Fame in Elkhart, Ind. He also is honored and memorialized through the Walter K. Hughes, Sr. Lifetime Achievement Award as the initial recipient and the namesake to inspire future honorees. MHV