YES! Acquires Substantial Portfolio of Manufactured Housing Communities

by / Wednesday, 07 August 2013 / Published in News

From denverpost.com

August 7, 2013 – YES! Communities (together with its affiliates, YES!), a Denver-based owner  and operator of manufactured housing communities and Stockbridge Capital Group,  a real estate investment management firm in San Francisco, announced today that  they have completed the purchase of a substantial portfolio of manufactured  housing communities from American Residential Communities (ARC), also of  Denver.

The acquired portfolio is comprised of 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!  has hired approximately 120 ARC employees currently working on-site in these  communities.

This is the latest in a string of acquisitions by YES!, which since its  inception in 2008 has added significant holdings in the Dallas, Texas and  Charleston, South Carolina markets. With this acquisition, YES! becomes one of  the country’s largest private owner/operators of this real estate type.

“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,” stated Andrew Luter, Chief Investment  Officer for YES!.

“We are looking forward to adding 42 new communities to the YES! family. We  are convinced that YES! Communities adds value with its unique combination of  home financing, leased home sites, leased homes and of course a YES! Attitude,”  stated Steve Schaub, Chief Operating Officer for YES!.

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