Manufactured Housing Properties (MHP), a leading owner and operator of manufactured housing communities, announced the launch of a Series G cumulative redeemable preferred stock offering that seeks to raise $100 million in equity from accredited investors through financial advisors at independent broker-dealers and registered investment advisory firms.
The Charlotte, North Carolina-based company said the offering requires a minimum investment of $25,000 from participating accredited investors. Arete Wealth Management serves as the managing broker-dealer for the Regulation D, Rule 506(c) offering.
According to MHP, proceeds from the offering will be used to support the acquisition, development, and capital improvement of manufactured housing and recreational vehicle communities, as well as provide general working capital. The company plans to continue expanding its portfolio in high-growth markets, particularly throughout the Sun Belt region.
MHP currently owns and operates 57 manufactured housing communities comprising more than 3,000 home sites across North Carolina, South Carolina, Georgia, Tennessee, and Texas.
The company highlighted favorable industry fundamentals, citing data from the Manufactured Housing Institute showing approximately 8.2 million manufactured homes in the United States housing roughly 20.6 million residents. The organization also reports that 85% of residents are satisfied with their homes. Manufactured homes have an average cost of $123,300 compared to $405,939 for site-built homes, while the sector ranked among the top-performing real estate property categories between 2010 and 2024, according to Nareit.
MHP noted that the Series G offering follows previous preferred stock programs and supports the company’s long-term growth strategy focused on expanding affordable housing options in underserved markets.
KEY QUOTE:
“Manufactured Housing Institute data shows the fundamentals driving manufactured housing remain compelling. Affordability pressures are intensifying, supply is constrained, and resident satisfaction is high. The Series G offering will follow the same disciplined approach used to support MHP’s portfolio growth and the successful redemption of our Series B, C, and D preferred shareholders in full.”
Ray Gee, Chairman and CEO, Manufactured Housing Properties
