CHARLOTTE, N.C., April 17, 2023 (GLOBE NEWSWIRE) -- Manufactured Housing Properties Inc. (OTC: MHPC), a leading owner and operator of manufactured housing communities, announced today the company’s acquisition of Palm Shadows Mobile Home & RV Resort.
Palm Shadows is a 55+ age restricted manufactured housing and RV resort community containing a total of 402 sites and 24 apartment units situated on approximately 26.95 acres in Donna, Texas; part of the McAllen-Edinburg-Mission, TX MSA. Resort amenities include a swimming pool and spa, recreational and activity center, lounge, outdoor shuffleboard, laundry facilities and an RC track area. The community is serviced by public water and sewer.
“Palm Shadows Resort fits perfectly into our goal to expand into the Texas market,” said MHP’s Chairman and CEO Ray Gee.
“The Palm Shadows Resort acquisition reflects our continued focus on acquiring communities that contain a high percentage of lot rent-only home sites,” added MHP President Jay Wardlaw. “We look forward to adding additional Texas communities to our portfolio.”
Manufactured Housing Properties now owns and operates 58 manufactured housing communities comprised of 3,139 home sites.
About Manufactured Housing Properties Inc.
Manufactured Housing Properties Inc. (“MHP”) together with its affiliates, acquires, owns, and operates manufactured housing communities in North Carolina, South Carolina, Georgia, Tennessee, and Texas. The company focuses on acquiring and operating manufactured housing communities in high growth markets and is actively seeking to expand its portfolio. To learn more, please visit www.mhproperties.com.
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Regulation A Offering
An offering statement relating to our offering of Series C Cumulative Redeemable Preferred Stock has been filed with the SEC. The SEC has qualified that offering statement, which means that we may make sales of the securities described by that offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You may obtain a copy of the offering circular that is part of that offering statement through this link. You can also obtain a copy of the offering circular by contacting J.R. Thacker at Arete Wealth Management, LLC, the placement agent for the Regulation A offering, by calling (888) 690-3580, by email at jrthacker@centerstreetsecurities.com, or write to Arete Wealth Management, LLC at 2 International Plaza Suite 301, Nashville, TN 37217.
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Contact:
Adam Martin
Chief Investment Officer
(980) 273-1702 ext. 239
