YES! Communities, Stockbridge Capital Acquire Manufactured Housing Portfolio

Posted by Orb Staff on August 08, 2012 No Comments
Categories : Residential Mortgage

12150_house2 YES! Communities, Stockbridge Capital Acquire Manufactured Housing Portfolio YES! Communities, a Denver-based owner and operator of manufactured housing communities, and Stockbridge Capital Group, a real estate investment management firm in San Francisco, have completed the purchase of a portfolio of manufactured housing communities from Denver-based American Residential Communities (ARC).

According to the companies, the acquired portfolio comprises 42 manufactured housing communities with more than 10,500 home sites in seven states including Iowa, Illinois, North Carolina, North Dakota, Nebraska, Oklahoma and South Carolina. In addition, YES! Communities hired approximately 120 ARC employees currently who are working on-site in these communities.

‘This latest acquisition further demonstrates our commitment to and our belief in manufactured housing and its long-term role as a uniquely affordable housing value for millions of Americans,’ says Andrew Luter, chief investment officer for YES! Communities, which owns and operates 117 communities in 16 states, with over 30,000 home sites.

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