Four Leaf Properties Reports Robust Sales Gains in Q2. Manufactured housing sector outlook very positive for remainder of 2010.
Tue 07/20/10 08:34:42 am
PRNewswire
CHICAGO, July 19 /PRNewswire/ -- Four Leaf Properties, a
privately held manufactured housing community owner and operator, today
announced its second quarter sales figures and provided future guidance for the
year. For the second quarter (Apr-Jun), the company posted a 2.5% increase in
occupancy across its portfolio for a net gain (less repos and move outs) of 53
units. Q2 Gross Sales were up 18% from the previous year. The
company posted particularly strong sales for its Michigan operations, and noted
stronger than expected sales for its Southern Indiana properties.
Noted Michael Callaghan, Managing Partner, "As
unemployment levels out, we're seeing buyers come back to the MHC market with a
renewed desire for home ownership. In terms of the broader market, we're finally
seeing the light at the end of the tunnel."
Although federal stimulus plans started tapering off in
the latter part of the quarter, the company noted little impact from the sunset
of the home buyer's credit. Kevin Shaughnessy, managing partner, noted, "This
continues a trend of solid sales increases starting in Q3 of last year. We're
seeing demand out-pace supply in nearly every market."
In addressing the supply challenges, the company cited a
recent financing agreement with Indiana-based Harmony Homes, which provides
attractive, short-term financing terms for new homes. "Our relationship
with Harmony continues to be a point of strategic advantage; both in terms of
tailoring the perfect home to our individual markets and providing homes on the
best possible terms," commented Shaughnessy.
In providing guidance for the
remainder of the year, the company projects 3-4% occupancy growth for same-site
locations for Q3/Q4 in support of 8-9% growth for the year.
Four Leaf Properties is a premier manufactured housing community owner
and operator with communities across the Midwest Corridor. Its family-friendly
communities offer beautiful, affordable homes with community facilities that
reinforce a commitment to providing the highest standard of living. To learn
more, visit www.fourleafprop.com. Contact: Douglas Briand. info@fourleafprop.com, Phone
780.637.4647
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Four Leaf Properties Reports Robust Sales Gains in Q2. Manufactured housing sector outlook very positive for remainder of 2010.
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