Industry Happenings

Arkansas Association Names Annual Award Winners at Chairman’s Banquet

The Arkansas Manufactured Housing Association at the Chairman’s Banquet named Clayton Homes of Savannah, Tenn., as the recipient of the Manufacturer of the Year award, A&R Mobile Home Services, of Cabot, Ark., as state industry Supplier of the Year, Hawks Homes of Conway, Ark., was named Retail Sales Center of the Year, and 2019 Factory Sales Representative of the Year went to Tom Gilbert of Cappaert Manufactured Housing in Vicksburg, Miss. “The AMHA Achievement Awards recognize companies and individuals that have demonstrated dedicated service and unwavering support to the factory-built housing industry in Arkansas and to those Arkansas families that choose manufactured homes as their source of affordable home ownership,” AMHA Executive Director J.D. Harper said.

Clayton Homes Partners with Family Promise to Address Homelessness

Family Promise, a national non-profit, and Clayton Homes, one

The Warren family of Colorado Springs, Colo., cuts the ribbon on a new home through Family Promise and Clayton Homes. Photos Courtesy of Clayton.

of the nation’s leading home builders, have partnered for a program called A Future Begins at Home that seeks to prevent homelessness and stabilize families.

“Family Promise’s holistic approach to the crisis of family homelessness includes three key areas of focus: prevention, shelter, and stabilization,” said Claas Ehlers, CEO of Family Promise. “With Clayton, we are moving families from being homeless to homeowners – and helping them to create sustainable independence.” Clayton has periodically gifted manufactured homes to Family Promise

families as a permanent housing solution, the latest being the Warren family of Colorado Springs, Colo., in October 2019.

“It’s an honor to join Family Promise in this important partnership and further Clayton’s commitment to opening doors to a better life through attainable homeownership,” said Susan Brown, director of philanthropy for Clayton. “We believe that everyone deserves the opportunity to achieve homeownership and have a safe, secure home of their own.”

Maverick Commercial Mortgage Arranges $2 Million Loan for Middlefield MHC

Maverick Commercial Mortgage has arranged a $2 million loan for the acquisition of Middlefield MHC, a 152-site manufactured housing community in Middlefield, Ohio. Ben Kadish of Maverick arranged the 10-year, fixed-rate loan with a 30-year amortization schedule. A national lender provided the nonrecourse loan. Middlefield is owned by Park Place Communities, which owns or operates 35 manufactured housing communities in 13 states.

Manufactured Housing Properties Inc. Names Andrew D. Coatley as Chief Operating Officer

Manufactured Housing Properties Inc., which acquires, owns, and operates manufactured housing communities, announced that Andrew D. Coatley joined the company as chief operating officer.

“We are very excited to have Andrew join our team, Andrew has extensive experience in real estate operation management and development. Andrew has a proven record of successfully building and managing highly effective and motivated teams,” President and CFO Michael Z. Anise said. Coatley’s background is in due diligence, project management, and property operations, furthering the company’s ability to acquire and manage the portfolio.

Capital One Finances $7.7 Million Loan for Central Valley Manufactured Home Community

Capital One provided a $7.7 million Fannie Mae loan for the acquisition of Almond Blossom Estates, a 139-unit, age-restricted manufactured housing community in Manteca, Calif., 75 miles east of San Francisco. Capital One Senior Vice President Damon Reed and Vice President Monica Schroeder originated the transaction. The fixed-rate loan has a 12-year term with five years of interest-only payments followed by amortization on a 30-year schedule. Capital One closed the deal 75 days after the date of acceptance of the loan application in order to meet the seller’s timing. The funds for the acquisition came from a refinance of another property the sponsor owned and Capital One closed in June 2019.

Hunt Real Estate Capital Provides $26.8 Million to Refinance Four Wisconsin Properties

Hunt Real Estate Capital has provided four Freddie Mac Small Balance Loans to refinance a recently constructed four-property, 202-unit portfolio in Pleasant Prairie, Wisc. The borrower and sponsor, Jeff Marlow, purchased the land for all four Fountain Ridge properties in September of 2016 and construction was completed in 2018. All properties are fully occupied. Freddie Mac Small Balance Loans are structured with a 10-year, fixed-rate term with a 30-year amortization schedule. The loans have a yield maintenance prepayment schedule (1% with the last 90 days open).

SG Realty Opens in Presque Isle, Maine SG Realty, a real estate agency and modular home seller, and a division of Schiavi Homes, opened in Presque Isle, Maine, in October. Presque Isle natives Dan Amero and Dan Castle serve as SG Realty’s designated broker/location manager and sales agent/planner, respectively.

SG Realty offers virtual tours and drone footage, allowing potential buyers to view homes anytime. “We serve all of Aroostook County,” Amero said. “People won’t have to go to Bangor to learn about the process.”

Puyallup Mobile Home Park to Become Tiny Home Community Bridgeview Asset Management is converting a Puyallup, Ore., mobile park into a tiny home community. The intent is to build four 313 square-foot homes that are customizable. Each can include a loft, kitchen, and bathroom with hardwood floors. The starting price is $60,000, which includes a 30- year lease of the lot space, and access to water and sewer hookup. There is an HOA with a monthly fee of $800. Mobile homes already placed in the community will remain. »

Manufactured Housing Community Planned South of Spartanburg, S.C.

A new manufactured home community from AM Partners will include 196 manufactured homes priced between $50,000 and $100,000. City View Community will sit on a 48.5 acre site with two- to four-bedroom, two bath homes. “We’re going to offer quality, brand new homes,” developer Tim Mason said. Each home will be placed on a brick foundation in a landscaped community that has an open common area, a walking trail, and other amenities. Construction was scheduled for March, with the first phase of homes coming in the summer of 2020.

Andy Nemeth Named CEO of Patrick Industries Elkhart, Ind.-based Patrick Industries, Inc. President Andy Nemeth has been named chief executive officer, succeeding former CEO Todd Cleveland. Cleveland is now executive chairman and remains chairman of the board. Nemeth joined the company in 1996 and has held multiple executive roles, including vice president of finance and chief financial officer. Patrick Industries is a multi-faceted manufacturer and supplier for the recreational vehicle, marine, and manufactured housing industries.

RHP Properties Buys Chicago Area Community RHP Properties, the nation’s largest private owner and operator of manufactured home communities, has acquired Country Club Woods, located in Countryside, Ill. RHP now

operates 260 manufactured home communities nationwide.

Carlyle Group Expands Portfolio The Carlyle Group bought Orange Brook Mobile Home Estates, a 344- site, 24-acre mobile home park in Hollywood, Calif., for $25.2 million. Carlyle Group is one of the world’s largest private equity firms with $212 billion in assets. Orange Brook caters to a 55+ lifestyle and borders the Orangebrook Golf and Country Club.

UMH’s Memphis Blues Community Expands

In November, UMH’s all-rental community Memphis Blues held the opening for phase two of its development, which adds 50 sites to the 37 homes that became available to rent in 2017. Three days after the opening, there was a waiting list for potential occupants. The community offers two and three-bedroom homes, with prices starting at $709 a month. In total, UMH plans for the neighborhood to have 150 homes.

Manufactured Housing Properties Acquires Spring Lake Manufactured Home Park

Manufactured Housing Properties Inc., a community owner and operator, purchased Spring Lake MHC in November. The 225-pad property is located in Warner Robins, Ga., and was the company’s fourth acquisition during 2019. MHP now owns 13 communities and continues to expand its portfolio.

MHVillage Promotes MHInsider Editor

Grand Rapids, Mich.-based MHVillage has named Content Director and MHInsider Executive Editor Patrick Revere to the role of Magazine Publisher and Associate Vice President of Publications for MHVillage. Revere joined MHVillage as a content marketing specialist in April of 2017. MHVillage is the leading online marketplace for manufactured and mobile home, and MHInsider is the premier industry source of manufactured housing news.

WCCRC Seeks to Replace Dilapidated Mobile Homes in Rural New York

Western Catskills Community Revitalization Council, Inc. is seeking funds to replace dilapidated mobile and manufactured homes in Schoharie County, N.Y. The program is for homeowners of older mobile homes interested in replacement. Eligibility will be based on household income, location, and the condition of the existing home.

New Mobile Home Community in Crested Butte, CO The Crested Butte Town Council and Gunnison Valley Housing Fund have begun the joint application process for a six-unit mobile home cluster located at 114 Butte Avenue. The homes will be 500-square-foot one-bedroom manufactured homes and offered as rentals to locals. VHF will hold ownership over all six units, determine renters, and manage the property. The project is going through a formal public Board of Zoning and Architectural Review (BOZAR) process. MHV

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