Manufactured Housing Properties Inc. Acquires Four Manufactured Housing Communities

Rhea-AI Summary

Manufactured Housing Properties Inc. (OTC:MHPC) announced the acquisition of four manufactured housing communities since July 2021, including Anderson, Capital View, Hidden Oaks, and North Raleigh. The acquisitions add 391 lots to their portfolio, bringing the total to 1,743 lots across 37 communities. Anderson includes 179 lots, while Capital View and Hidden Oaks have 32 and 43 lots, respectively. North Raleigh encompasses five communities with 137 lots. The company aims to expand its presence in high-growth markets.

Positive

• Acquisition of four communities increases total lots to 1,743.
• Expansion into high-growth areas, enhancing market reach.

Negative

• None.

Charlotte, North Carolina, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Manufactured Housing Properties Inc. (OTC:MHPC) today announced the acquisition of four manufactured housing communities since July 2021, including Anderson, Capital View, Hidden Oaks, and North Raleigh.

Anderson is comprised of ten separate manufactured housing communities totaling 179 lots located in Anderson, South Carolina. Capital View and Hidden Oaks are two manufactured housing communities with 32 and 43 lots, respectively, located in the Columbia, South Carolina metropolitan area. North Raleigh is comprised of five manufactured housing communities totaling 137 lots located in the rapidly growing Research Triangle metropolitan area.

The company now has 37 owned and operated manufactured housing communities totaling 1,743 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:
Michael Z. Anise
President and Chief Financial Officer
(980) 273-1702

FAQ

What is the significance of MHPC's recent acquisitions?

The acquisitions increase MHPC's total lots to 1,743 and expand its footprint in high-growth markets.

How many lots are included in the Anderson community acquisition?

The Anderson acquisition includes ten communities totaling 179 lots.

What is the total number of manufactured housing communities owned by MHPC?

MHPC now owns 37 manufactured housing communities.

Where are the recently acquired communities located?

The communities are located in South Carolina, specifically Anderson and the Columbia metropolitan area, and North Raleigh.