Happenings
Indu stry
HAPPENINGS
Transactions California Builders Opens Plant in W.V.
ed the addition of approximately 1,100 homes to its Fannie Mae credit facility, through Wells Fargo Bank,
Omnis Building Technologies of California will build
for approximately $25.6 million. Proceeds will be
a $40 million, 150,000-square-foot manufacturing
used to invest in additional acquisitions, expansions,
facility in Bluefield, W.V. The plant will create as
and rental homes further enhancing the company’s
many as 300 jobs and will manufacture building
ability to increase shareholder value and provide
materials for residential construction. The company
quality affordable housing. “We are proud of the
makes energy-efficient, pre-engineered concrete
groundbreaking work we have done to facilitate the
insulated building units (CIBUs) that are shipped
acceptance and financing of rental homes in man-
then assembled on-site to make pre-designed homes.
ufactured housing communities,” Samuel A. Landy, the UMH president and CEO, said. “For over 10 years,
Idaho City Buys Manufactured Home Community
we have believed that a manufactured home in a land-lease community is one dwelling unit equivalent
The Boise City Council voted 5-1 to approve the
or better than any apartment and deserving of the
purchase of Shoshone Park manufactured home
same financing received by apartments. As of today,
community with 24 homesites for $3.25 million. City
Fannie Mae has recognized this fact. We expect to be
officials said the property has been purchased to
able to refinance additional communities and include
maintain it as local affordable housing. The transac-
rental homes as collateral.”
tion can be finalized after 45-day due diligence and 90-day waiting periods.
UMH Properties Gains Added Financing for Rental Homes UMH Properties, Inc. in March successfully complet6 | MAY / JUNE 2022 EDITION
Housing Innovation Centers Receive DOE Funding The U.S. Department of Energy awarded $32 million for more than 30 building projects to improve technologies in affordable housing. DOE recipients include the
