- the MHC weekend
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- Heywood Jablóm
Edward Smith with the Fresno edition of The Business Journal is either 1) really bored, or 2) really dumb.
For reference, article is here. Harmony Communities has a sense of humor. They created a fake spokesperson named Heywood Jablóm. For anyone too obtuse to understand, Heywood Jablóm would be the name Bart calls Moe’s for if it were an R-rated episode of the Simpsons.
Now, why am I picking on Edward Smith? Not just because he felt this was a compelling news piece. It’s because he took the time to call three different legitimate institutions to see if a Heywood Jablóm has any affiliation with them - UCLA, the American Cancer Society, and Oracle. You can’t make this stuff up.
Enjoy!
What We Are Reading
The Goods - Manufactured Housing
Who is Heywood Jablóm? Controversial Real Estate Firm Invents Fake Spokesperson — Stockton, CA
A controversial property management company used a prank name as the identity of its communication director. It used the name to make at least one official press statement.
BWE Investment Sales Welcomes New Vice President — Atlanta, GA
BWE Investment Sales, LLC (BWEIS), an affiliate of Bellwether Enterprise Real Estate Capital LLC (BWE), announced today that Parker Kelly has been hired as Vice President specializing in Manufactured Housing. He will be based in Atlanta, GA, and will lead this asset class nationally.
Pines Park offer to buy land rejected — Bradenton, FL
The ownership of the Pines Trailer Park in Bradenton Beach rejected a purchase offer from the homeowners, according to Islander newspaper sources. The park, 103 Church Ave., was listed for sale Jan. 25 and state law gives homeowners in mobile home communities 45 days from an offer to buy the land.
Houston Firm to Build Affordable, “Luxury” Manufactured Home Community — Houston, TX
When it comes to trying to find an affordable housing option in Texas, this one is a combination of owning and renting. Houston construction firm Live Lone Star has broken ground on a $34 million luxury manufactured home community. It’s the companies sixth such project in Texas.
Manchester Council Approves Rent Control Ordinance — Manchester Township, NJ
The Township Council passed a rent leveling ordinance to help residents of manufactured communities being negatively impacted by high increases from their landlords.
Residents of Lake Elmo manufactured home park lament unreasonable rent increases, enforcing ordinances — Lake Elmo, MN
People living in a manufactured home park turned to the city council for help on Tuesday, asking for help with what they call unreasonable rent increases and enforcing ordinances. But that's not the only thing they say is happening at Cimarron Park.
Tenants of Benton mobile home park worry about future after given 30 days to vacate land — Benton, AR
The sun isn't really shining at the Sunset Lake Mobile Home Park in Benton after the landlord terminated their leases. From continuous issues on the property like a lack of water to now being forced from their homes.
Newmark Raises $500 Million Programmatic Joint Venture for Castle Park Investments — New York, NY
Newmark has raised a $500 million programmatic joint venture ("the Venture") between a global real estate private equity firm and Castle Park Investments ("CPI") that will focus on core plus and value-add manufactured housing communities ("MHC"), recreational vehicle ("RV") resorts and campground assets across the U.S. The team was led by Newmark's Co-Heads of Debt & Structured Finance Jordan Roeschlaub and Dustin Stolly, along with Director Eden Abraham
Complaint Filed Against Acton Mobile Home Park For Operation Of Large Cesspools — Santa Clarita, CA
The United States Environmental Protection Agency (EPA) has filed a complaint against the owner of Cactus Creek Mobile Home Park in Acton, alleging the park’s use of two large cesspools collecting raw sewage.
'Like a war zone': Jamestown mobile home park devastated by tornado-producing storm — Jamestown, CA
Residents of Woods Creek Mobile Home Park and RV Resort between Sonora and Jamestown were cleaning up Monday from the path of destruction left by a severe weekend storm that produced a rare confirmed tornado which touched down Saturday afternoon in the Jamestown area.
We need 1 more vote to keep Phoenix families in their mobile homes — Phoenix, AZ
Phoenix Mayor Kate Gallego and our colleagues on the Phoenix City Council have an opportunity to join our efforts to keep more than 130 families out of homelessness.
General Real Estate News
It’s the Economy, Stupid
Another Chaotic Week for Banks Marks the End of an Era for the Global Economy. (Link)
Regulatory and Affordability
Charts Making Us Smarter
Public Markets Corner
Flagship Communities Real Estate Investment Trust Announces Fourth Quarter and Full Year 2022 Results
Flagship Communities Real Estate Investment Trust ("Flagship" or the "REIT") (TSX: MHC.U) (TSX: MHC.UN) today released its fourth quarter and full year 2022 results. The financial results of the REIT are presented below in accordance with International Financial Reporting Standards ("IFRS"), except where otherwise noted. Results are shown in U.S. dollars unless otherwise noted.
UMH Properties, Inc. Enters Into New Revolving Credit Agreement
UMH Properties, Inc. (NYSE: UMH), announced that on March 9, 2023, it entered into a $30 million revolving line of credit with Triad Financial Services secured by rental homes and rental home leases.
UMH Properties, Inc. Publishes Its 2022 Annual Report
UMH Properties, Inc. (NYSE:UMH) (TASE:UMH), a real estate investment trust (REIT) specializing in manufactured home communities, announced today that it has published its 2022 Annual Report. It is now available on the Company’s website.
UMH Properties, Inc. Enters Into New Revolving Credit Agreement
UMH Properties, Inc. (NYSE: UMH), announced that on March 9, 2023, it entered into a $30 million revolving line of credit with Triad Financial Services secured by rental homes and rental home leases.
Legacy Housing Corp Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-K)
The following discussion should be read in conjunction with the financial statements and accompanying notes and the information contained in other sections of this Form 10-K. It contains forward-looking statements that involve risks and uncertainties, and is based on the beliefs of our management, as well as assumptions made by, and information currently available to, our management.
Recent Acquisitions
ANOTHER CLOSED MHC! Institutional Property Advisors, a Division of Marcus & Millichap, is pleased to announce the recent sale of a Front Range Colorado MHC containing ~400 sites.
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Morro Bay Mobile Park flooded
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Elevation Capital Group, and its affiliates, (“Elevation”) focuses exclusively on two niche property types: Mobile Home Communities and Self Storage Facilities. Elevation, through its affiliates, has acquired properties worth more than $600 million and has owned more than 200 properties across more than 30 states. To learn more about Elevation and their current investment offering, click here.
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