MANUFACTURED HOUSING PROPERTIES INC. ACQUIRES A NEW COMMUNITY

Rhea-AI Summary

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.

Positive

• Acquisition expands presence in the Asheville market.
• Total of 49 communities owned, increasing operational scale.
• Strategic growth with six acquisitions in 2022.

Negative

• None.

Charlotte, North Carolina, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Manufactured Housing Properties Inc. (OTC:MHPC) today announced the acquisition of Red Fox Manufactured Housing Community.

Red Fox consists of 51 lots and 51 homes situated on approximately 9 acres in Clyde, North Carolina, a town in the Asheville Metropolitan Statistical Area. Red Fox expands the company’s presence in the Asheville market and is the sixth community acquired by MHPC during 2022.

MHPC now owns and operates 49 manufactured housing communities totalling 2,350 lots.

About Manufactured Housing Properties Inc.

Manufactured Housing Properties Inc., together with its affiliates, acquires, owns, and operates manufactured housing communities. The company focuses on acquiring and operating manufactured housing communities in high growth markets and is actively seeking to expand its portfolio.

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will”, “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” of the reports that we file with the Securities and Exchange Commission (SEC). Forward-looking statements contained in this announcement are made as of this date, and we undertake no duty to update such information except as required under applicable law.

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.

Investing in a Regulation A offering is subject to unique risks, tolerance for volatility, and potential loss of investment, that investors should be aware of prior to making an investment decision. Please carefully review the risk factors contained in the offering circular for this offering. For more information about Regulation A offerings, including the unique risks associated with these types of offerings, please click on the SEC's Investor Alert.

Neither this press release nor any of its content constitutes an offer to sell, solicitation of an offer to buy or a recommendation for any security by us or any third party. The content of press release is provided for general information purposes only and is not intended to solicit the purchase of securities or to be used as investment, legal or tax advice. A securities offering by us is only being made pursuant to the offering circular described above. The content of this press release is qualified in its entirety by such offering circular. Prospective investors are urged to consult with their own, investment, legal and tax advisors prior to making any investment.

Contact:

Jay Wardlaw
President
(980) 273-1702 ext. 244

FAQ

What is the significance of MHPC's acquisition of Red Fox Manufactured Housing Community?

The acquisition enhances MHPC's presence in the high-growth Asheville market and contributes to its overall portfolio expansion.

How many lots does the Red Fox community add to MHPC's portfolio?

The Red Fox community adds 51 lots, bringing MHPC's total to 2,350 across 49 communities.

When was the acquisition of Red Fox Manufactured Housing Community announced?

The acquisition was announced on August 18, 2022.

What is MHPC's strategy for growth?

MHPC focuses on acquiring and operating manufactured housing communities in high-growth markets, as evidenced by its six acquisitions in 2022.

How will the acquisition of Red Fox impact MHPC's operations?

The acquisition is expected to improve operational scale and market presence, potentially leading to increased revenue opportunities.