Manufactured Housing News - Week of February 6th, 2022
Congress Wealth Management LLC DE Raises Position in Sun Communities, Inc. (NYSE:SUI) - From MarketBeat
According to its most recent SEC filing, Congress Wealth Management LLC DE increased its stake in Sun Communities, Inc. (NYSE:SUI - Get Rating) by 5.7% in the third quarter. After acquiring an additional 3,411 shares during the course of the period, the fund had 63,599 shares of the stock of the real estate investment trust. At the time of its most recent SEC disclosure, Congress Wealth Management LLC DE held an approximate 0.05% stake in Sun Communities, valued at $8,607,000.
$25M in federal funds headed to mobile home parks across Vermont - From Multi-Housing News
The agency’s Healthy Homes Program has almost $25 million in federal money available from the American Rescue Plan to fix water infrastructure issues in mobile home parks.
“We haven't had a lot of investments in them — they've really been left on their own to sort of meet the needs and demands,” said Josh Hanford, Housing and Community Development Commissioner. “And this is a time for the state and federal government to step up and help these communities.”
Are Manufactured Homes a Good Investment in 2023? - Multi-Housing News
The first half of the year will be challenging for investors because of the lack of alignment between buyers and sellers, Harris believes. The bid-ask spread is still wide, with many investors adopting a wait-and-see mode.
“Buyers are looking at the higher interest rates as an opportunity to buy properties at a higher cap rate or lower valuation,” said Vedeen. “The problem is that owners have grown accustomed to having brokers ‘wow’ them with inflated values and that isn’t happening right now. Buyers are looking for a deal, while sellers are holding onto hope of a large sale price… I see this as a waiting game to see who gives in first—buyers or sellers,” he added.
Mobile Home Community Applying for Expansion - Crozet Gazette
Shimp Engineering's Kelsey Schlein gave a presentation at the Crozet Community Advisory Committee (CCAC) meeting on January 11 on two special use permits that the Crozet Mobile Home Community (MHC) on Park Road's new owners had requested.
The former Crozet Mobile Village was bought in 2022 for $4 million and included in Roseland Communities' eight mobile home parks, which are in turn controlled by North Highland Partners, a private equity real estate investment company. To raise the number of units on the property and bring the construction in line with county regulations, the new owners are asking for county permits.