MANUFACTURED HOUSING PROP - MHPC STOCK NEWS

Manufactured Housing Properties Inc. (OTC: MHPC) has announced the acquisition of Palm Shadows Mobile Home & RV Resort located in Donna, Texas. This 55+ age-restricted community comprises 402 sites and 24 apartment units over 26.95 acres. The resort features various amenities, including a swimming pool, spa, and activity center. The acquisition aligns with MHPC's strategy to expand in the Texas market, which is part of its ongoing efforts to acquire properties with a high proportion of lot rent-only home sites. Following this acquisition, MHPC will own and operate 58 communities totaling 3,139 home sites. The company remains focused on growth in high-demand areas.

Manufactured Housing Properties Inc. (OTC: MHPC) reported a 69% increase in total revenues to $14,202,273 and a 33% rise in Adjusted EBITDA to $3,787,421 for the fiscal year ending December 31, 2022. The company acquired 13 manufactured housing communities, adding 560 lots to its portfolio. Executives highlighted successful execution of growth strategies and ongoing efforts to stabilize recently acquired properties. They anticipate acquiring an additional 400 lots in April 2023 through a $47 million preferred stock offering. The company aims to enhance cash flows and operational efficiency.

Manufactured Housing Properties Inc. (OTC:MHPC) announced the acquisition of multiple manufactured housing communities, expanding its portfolio significantly. In January 2023, the company acquired Country Aire and Merritt Place communities in South Carolina and Georgia, which includes 105 lots and 40 developed lots, respectively. Additionally, the November and December acquisitions include a Wake Forest portfolio and Mobile Cottage, totaling 72 lots and 23 lots. With these acquisitions, MHPC now owns 57 communities comprising 2,747 lots, focusing on growth in high-demand markets.

Manufactured Housing Properties Inc. (MHPC) reported a substantial revenue increase of 76% and a 13% rise in adjusted EBITDA for the nine months ending September 30, 2022, compared to the same period last year. Total revenues reached $10,142,521, while adjusted EBITDA was $2,641,304. In Q3 alone, revenues were $3,716,128. The company acquired five communities during the third quarter, expanding its portfolio. A $47 million preferred stock offering is ongoing to support growth, with three more communities under contract for acquisition by January 2023.

Manufactured Housing Properties Inc. (OTC: MHPC) announced the refinancing of 42 communities via Fannie Mae, securing $62 million in long-term financing over ten years. This refinance, effective Oct. 10, 2022, pays off 22 existing bank loans, with the first five years being interest-only at 4.87%. Additionally, $4 million is allocated for capital improvements. The company also acquired three new communities in North Carolina, expanding its portfolio to 52 communities totaling 2,472 lots. This move reinforces MHPC's presence in the Charlotte and Greensboro areas.

Manufactured Housing Properties Inc. (OTC:MHPC) announced the acquisition of Red Fox Manufactured Housing Community, comprising 51 lots and homes on 9 acres in Clyde, North Carolina. This acquisition expands MHPC's footprint in the Asheville market and marks the sixth community added in 2022. The company now owns 49 manufactured housing communities with a total of 2,350 lots. The acquisition aligns with MHPC's strategy to enhance its presence in high-growth markets.

Manufactured Housing Properties Inc. (MHPC) reported significant financial growth for the six months ending June 30, 2022, with revenues increasing by 83% to $6.43 million and adjusted EBITDA rising by 30% to $1.80 million. The company operates 49 manufactured housing communities and acquired an additional community during the quarter. Despite revenue growth, adjusted EBITDA for Q2 was slightly down due to one-time payroll expenses. Management is optimistic about future growth, with plans for 10 more communities under contract, supported by a $47 million preferred stock offering.

Manufactured Housing Properties Inc. (OTC:MHPC) announced the acquisition of three properties, enhancing its portfolio in high-growth markets. On June 17, 2022, MHPC acquired a 72-lot community in Brunswick, Georgia, followed by a 62-acre land purchase in Raeford, North Carolina, on June 28, 2022, intended for 200 mobile home lots. Finally, on July 7, 2022, the company acquired a 39-lot community in Leesville, South Carolina. With these acquisitions, MHPC now owns 48 communities totaling 2,299 lots, reinforcing its growth strategy.

Manufactured Housing Properties Inc. (OTC: MHPC) has appointed Bill Boscow as executive vice president of capital markets. Boscow, with over 35 years of experience in financial services, previously served as senior vice president at Wildermuth Wealth and held key roles at Morningstar and Lincoln National Group. His expertise is anticipated to enhance the company's growth, particularly through its current Regulation A offering and future initiatives. As of March 31, 2022, MHPC owns 46 communities with 2,195 home sites across North Carolina, South Carolina, Georgia, and Tennessee.