Updates and Industry Happenings from the Manufactured Housing Industry
July/August Manufactured Housing Industry Happenings
Patrick Industries Buys Cabinetmaker
Goshen, Ind., cabinetmaker Maple City Woodworking has been purchased by Patrick Industries for an estimated $12 million. The acquisition includes working capital, machinery, equipment, and real estate. Patrick Industries, a leading supplier for the manufactured housing and RV industries, will continue to operate Maple City on a stand-alone basis under its brand name in its existing facilities.
Hunt Provides $6 Million Loan to Refinance Two Utah Communities
Country Village and Mountain View Estates, two non-contiguous communities in Layton, Utah, received a $6 million Fannie Mae DUS conventional multifamily loan to refinance the properties. Hunt Real Estate Capital provided the 10-year loan interest-free for the first four years. Developed between 1973 and 1975, the two communities have a combination of single- and double-width spaces among the 145 homesites. Additionally, the communities have 310 parking spaces, two for every home. Amenities include a clubhouse, playground, and basketball courts.
Three Oklahoma Communities Change Hands
Adkins Hill Village in Norman, Okla., a 111-site property that was 95% occupied, and Leisure Estates in Claremore, Okla., a 46-site property that was 96% occupied, were purchased for $4.2 million by Stonetown 6 Investors of Denver from owners in Tracy, Calif, according to Keith Wilson, of Keith Wilson Co. Additionally, South Acres Community LLC of San Antonio purchased South Acres Mobile Home Park of Bristol, Okla., a fully occupied 42-homesite property, for $475,000 from the previous Chandler, Ariz.-based owner.
Cowlitz, Wash., County Commissioners Update Code
The Cowlitz County Board of Commissioners in Washington updated the housing code for the first time since 1978 to encourage more affordable housing. Code changes modernize the language and align with state guidelines, Commissioner Dennis Weber said. The updates had been discussed for several years and affect sewer and water usage, as well as landscaping, fire safety, transportation, and parking considerations. Cowlitz County has 60 manufactured home communities.
Louisiana Community Sells for $2 million
A north Lafayette manufactured home community sold for nearly $2 million to Stanley Holdings Group. Drake 55 Investments purchased the 10-acre property, Drake Mobile Home Village, for $900,000 at a 2017 sheriff’s department auction.
West Virginia Builder Changes Name
Express Modular, a custom modular home provider, its name to Impresa Modular to elevate the 12-year-old company’s long-term vision of providing a range of high-quality, on-demand, reliable services to home buyers, and builders/developers.
Colorado Coalition Provides First Home
A coalition in Elyria-Swansea, Colo., has its first homeowner under a new program to create more opportunity for homeownership in the northern Denver metro area. “It’s really a story of a victory for the neighborhood,” said Jane Harrington, executive director of the Colorado Community Land Trust, which was brought in by residents of Globeville and Elyria-Swansea as a partner in their trust.
Modular Homebuilder to Use Improved Solar Panel
S2A Modular, the creator of the GreenLuxHome, will have exclusive access to upgraded solar panels that create a more durable, longer-living product. The patented PV Graf™ technology comes from FreeVolt, a European solar company that has developed the world’s first and only graphene solar panel.
Arizona Community Sells for $3.2 million
Marcus & Millichap has arranged the sale of the Los Arcos Mobile Home Park in Sierra Vista, Ariz. An individual/personal trust acquired the community from a private investor for $3.2 million. The community is on 37.2 acres and features 232 homesites. At the time of sale, the property was 60% occupied.
RHP Acquires Michigan Community
RHP Properties, the nation’s largest private owner and operator of manufactured home communities, has announced the acquisition of Woodlands Estates, located in Oakland Township, Mich. This brings the company’s total of manufactured home communities to 260 nationwide. The announcement was made by Ross H. Partrich, CEO, RHP Properties. Woodlands Estates is an all-age, pet-friendly community, located five miles from the quaint town of Lake Orion.
Massachusetts Mobile Home Park Sells for $2.35
American Mobile Home Park in Auburn, Mass., sold in April for $2.35 million to Johnson Family Associates of Dennis, Mass. The community has 38 homesites. “As a family, we spent many years living in Central Massachusetts and are excited to be part of the continued growth in an area that is very special to us,” new owner Bob Baker stated.
Ronnie Bledsoe Passes Away at 70
Ronnie Bledsoe, a visionary land developer, well-regarded businessman, revered family man, and friend to many has passed away at the age of 70. “Those of us in the industry that had the pleasure of working with Ronnie know what a class individual he was,” Florida Manufactured Housing Association President Mark Kelly said. “He was a giant in our industry and a man that was all about vision, drive, a strong work ethic, and integrity.” Bledsoe’s experience as an underground utility contractor and developer and Mynchenberg’s background in civil engineering and landscape architecture was a winning combination in the development of Plantation Oaks of Flagler between 1998 and 2004. After selling the Flagler property, Bledsoe and Mynchenberg built Plantation Oaks of Ormond Beach, an upscale community with 1,577 homes.
Alabama Mourns Death of Administrator
Tommy Colley, former assistant administrator of the Alabama Manufactured Housing Commission passed away early the morning of April 23 with wife Lisa and children by his side. He had been battling cancer prior to his death. Colley was known as a wonderful friend and someone who was devoted to his family, his work, and the manufactured and modular housing industries.
Wisconsin Community Owner Passes Away
The manufactured housing industry mourns the loss of James A. Hornung, who ran Deerrun Estates in Merrill, Wisc., with his wife Janice. In retirement Hornung bowled and collected vintage cars including a 1925 Model T. Having spent much of his life as a builder and cabinet maker, Hornung in 2011 constructed his own coffin. He is survived by his wife; brothers Richard and Donald; three sons James, Tony, and Bryan, and five grandchildren.
N.C. War Veteran, Community Owner Dies
Franklin L. Robinson of Hunstville, N.C. passed away at the age of 94. He fought in the Battle over Iwo Jima with the Fifth Marine Division, pitched for the University of North Carolina and struck out future president George H.W. Bush in a game against Yale. He completed an eight-year professional baseball career that included a stint in the Major Leagues with the Philadelphia Athletics. He was a teacher at the local schools, and owned and operated Robinson’s Mobile Home Park.