Manufactured Housing News - 2/20/2023
“Home isn't where you're from, it's where you find light when all grows dark.” ― Pierce Brown, Golden Son
Flagship Communities Real Estate Investment Trust adds another Indiana community to its portfolio - Yahoo! Finance
Flagship Communities Real Estate Investment Trust ("Flagship" or the "REIT") announced it has agreed to acquire a 20-acre, high-quality manufactured housing resort community in Austin, Indiana, further expanding the REIT's presence in the key market of Indiana. The acquisition includes 120 MHC homesites, which includes 94 developed lots and 26 lots for additional expansion. The purchase price for the acquisition was satisfied by approximately $2.0 million in the issuance of Class B units by Flagship Operating, LLC, a subsidiary of the REIT. Flagship expects the acquisition to be accretive to the REIT's long-term AFFO on a per unit basis.
"Located just 35 miles from the Louisville Kentucky metro area, the Austin location offers affordable housing in Scott County, Indiana, and includes an array of amenities including a new clubhouse, playground, basketball courts and soccer fields. Scott County is in the automotive supply chain network with the Honda manufacturing plant located in Greensburg, Indiana and is within 35 minutes of downtown Louisville, Kentucky as well as also being on the I-65 corridor that connects Louisville to Indianapolis Indiana," said Kurt Keeney, President and Chief Executive Officer.
Jacksonville Mobile Home Park Sells for $9.5M - Arkansas Business
Garff Properties Michigan LLC of Salt Lake City acquired the Pine Meadow Mobile Home Park at 3000 John Harden Drive in Jacksonville for more than $9.5 million.
Seller? Pine Meadow MHP Jacksonville AR LLC, an affiliate of Vineyard Impact Funds of Sandy, Utah.
The Middle of WLR LLC, led by Kevin Huchingson, paid $5.4 million for nearly 9.8 acres at the southeast corner of Cantrell and Rodney Parham roads in west Little Rock
Seller: The Board of Trustees of the University of Arkansas, led by Cliff Gibson.
LLEJ VIII LLC, led by Leonard Boen, sold a 7,846-SF retail project at 15200 Chenal Parkway in west Little Rock for $3.5 million.
Buyer: Finch Properties LLC, an affiliate of Vital Core of Central Mississippi in Madison.
EXP Wash RE Portfolio Owner I LLC, an affiliate of United Global Development Corp. of New York, bought the Zips Express Car Wash at 9500 N. Rodney Parham Road in west Little Rock for nearly $3 million.
Seller: SCF RC Funding IV LLC, an affiliate of SCF Realty Capital of Princeton, New Jersey.
Knickerbocker LLLP, led by Lawrence and Frankie Sue Tompkins, sold a 20,798-SF office-warehouse at 1310 Chester St. in Little Rock to Philander Smith College for $1.3 million.
Tisdale Properties & Development LLC, led by Tracy Tisdale, purchased the 40,548-SF Markham West Plaza office building at 8500 W. Markham St. in west Little Rock for $1.2 million.
Seller? Arkansas Bolt Co., led by Stan Hastings.
Purple Moon Properties LLC, led by Alese Stroud, sold the 103-unit Arkansas Storage Center at 10056 U.S. 165 in eastern North Little Rock for more than $1.2 million.
Buyer? Copper Storage Solutions LLC of Daytona Beach, Florida
Geoship Domes announces ‘Earthshot’ Mission: To Make the Best Home also the Most Affordable Home - Newswires
Geoship, the leader in next-generation affordable homes, announced its ‘Earthshot’ mission: To make the best home on earth the most affordable one, while scaling manufacturing to one million units per year (faster than Tesla Motors.) The company recently revealed the world’s first fully bioceramic geodesic home and launched a community-first funding round on Republic.com.
Geoship has received over 10,000 dome preorders, and more than 500 with paid deposits. The company includes over 2,000 investors and celebrities. Prospective partners are invited to learn more at: www.republic.com/geoship. The round is open for a limited time.
Geoship's 'physics first' approach to home manufacturing combines geodesic and ceramic materials to create homes that cost half as much, have a 90% smaller carbon footprint, and last up to 500 years. Ceramic domes can be rapidly manufactured and assembled on site, maximize material efficiency, and are ultra energy efficient and resistant to earthquakes, hurricanes, floods, and fires.
The domes even benefit from known health benefits related to homes with natural light, curved shapes, and healthy natural materials.
Danville looks to create 'anchor community within the city' with Monument-Berryman project - Dan Register & Bee
Amid a demand for housing in Danville, proposals to develop properties in the Monument Street and Berryman Avenue area are due to the city by last Friday.
Known as the Monument-Berryman area, Danville leaders hope to address the housing challenges by leveraging investment to the mostly vacant area encompassing about 17 acres.
“The Monument-Berryman area has a lot of potential to create an anchor community within the city,” Susan McCulloch, division director for housing and development in the city’s community development department, said in a statement. “The area is adjacent to the River District and the Old West End. There are a lot of walkable opportunities because it is so close to downtown.”