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Home > Investing > Spotlight on REITs: Manufactured Home Communities INC

Spotlight on REITs: Manufactured Home Communities INC

Money Manager | Monday, June 27th, 2011

Manufactured Home Communities INC: This real estate investment trust is primarily based on mobile home parks; it is actually one of the most successful REITs at the time that it was in business.

Manufactured Home Communities INC owned over 69 mobile home communities in 19 states in 1996 making them the largest mobile home REIT in the USA there communities have over 27,356 units leased out to tenants and sold to other real estate companies, Manufactured Home Communities INC was the very largest REIT in the business.

In 1996 the total revenue of the company was $105 million dollars, most of this is profits for the shareholders and investors, this was a very prosperous REIT for a number of years, there was a point that the company bought and acquired millions of dollars’ worth of property in the course of 6 months.

Manufactured Home Communities INC was founded and incorporated in 1993 in Chicago Illinois, and made millions of dollars’ worth of acquisitions between 1993 and 1996; in fact in those three years the company made the majority of these companies mobile and communities, in 1996 the company employed over 465 people making them a very large employer.

Manufactured Home Communities INC then saw a dramatic change in 1995-1996 the very aggressive acquisition left the company with very little liquid cash and the stocks began to fall dramatically, this caused a stir in the company, as they sold off assets to gain a stable hold on the market, it worked for a while.

Manufactured Home Communities INC was a Real Estate Investing Trust meaning that it was subject to the rules and regulations of an investment trust, this means the 90% of the profit is not taxed, the profit is divided between the shareholders and investors rather than paid to the government.

Manufactured Home Communities INC is now part of Equity lifestyle properties INC, who are currently the largest owner of mobile home parks as well as RV sites, they own properties in the USA as well as Canada, and they have been in business for over 30 years and have properties in almost every state.

Manufactured Home Communities INC first sold many properties before it became a part of Equity lifestyle properties INC, this made the joining of the two companies easier without the huge amount of properties Manufactured Home Communities INC had prior to the selloff.

Manufactured Home Communities INC is listed as an A+ business on the BBB, as well as being known for being one of the largest and more successful REITs of its time, the fact that it is part of Equity lifestyle properties INC does nothing to discount the huge amount of respect this company has earned.

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