Manufactured Housing Properties Stock

Manufactured Housing Properties Inc. operates as a self-administered, self-managed, vertically integrated owner and operator of manufactured housing communities.

The company earns income from leasing manufactured home sites to tenants who own their own manufactured home and leasing manufactured homes owned by the company to residents of the communities.

The company owns and operates 55 manufactured housing communities containing approximately 2,579 developed sites and 1,394 company-owned manufactured homes. The company's communities are located in Georgia, North Carolina, South Carolina, and Tennessee.

In December 2020, the company entered into a property management agreement with Gvest Finance LLC, a company owned and controlled by the company's parent company, Gvest Real Estate Capital LLC; and has subsequently entered into property management agreements with Gvest Homes I LLC, Gvest Anderson Homes LLC, Gvest Capital View Homes LLC, Gvest Hidden Oaks Homes LLC, Gvest Springlake Homes LLC, Gvest Carolinas 4 Homes LLC, Gvest Sunnyland Homes LLC, Gvest Warrenville Homes LLC and Gvest Wake Forest 2 Homes LLC, which are all wholly owned subsidiaries of Gvest Finance LLC. Under the property management agreements, the company manages the homes owned by the VIEs and the VIEs remit to the company all income, less any sums paid out for operational expenses and debt service but retain 5% of the debt service payment as a reserve.

Additionally, during 2021, the company formed two entities, Brainerd Place LLC and Bull Creek LLC, for the purpose of exploring opportunities to develop mobile home communities. The company owns 49% of these entities and Gvest Real Estate LLC owns 51%. The company also executed operating agreements with these entities which designate Gvest Capital Management LLC, a company owned and controlled by Gvest Real Estate Capital LLC, as manager with the authority, power, and discretion to manage and control the entities' business decisions.

As of December 31, 2022, the company owned the following manufactured housing properties consisting of 2,579 total lots.

Pecan Grove - a 82 lot, all-age community situated on 10.71 acres and located in Charlotte, North Carolina. The average occupancy was 100%.

Azalea Hills - a 39 lot, all-age community situated on 7.46 acres and located in Gastonia, North Carolina, a suburb of Charlotte, North Carolina. The average occupancy was 98%.

Holly Faye - a 35 lot all-age community situated on 8.01 acres and located in Gastonia, North Carolina, a suburb of Charlotte North Carolina. The average occupancy was 99%.

Lakeview - a 84 lot all-age community situated on 17.26 acres in Spartanburg, South Carolina. The average occupancy was 100%.

Chatham Pines - a 49 lot all-age community situated on 23.57 acres and located in Chapel Hill, North Carolina. The average occupancy was 100%.

Maple Hills - a 74 lot all-age community situated on 21.20 acres and located in Mills River, North Carolina, which is part of the Asheville, North Carolina, Metropolitan Statistical Area. The average occupancy was 91%.

Hunt Club Forest - a 78 lot all-age community situated on 13.02 acres and located in the Columbia, South Carolina metro area. The average occupancy was 100%.

B&D - a 96 lot all-age community situated on 17.75 acres and located in Chester, South Carolina. The average occupancy was 84%.

Crestview - a 113 lot all age community situated on 17.1 acres and located in the Asheville, North Carolina, Metropolitan Statistical Area. The average occupancy was 94%.

Springlake - three all-age communities with 224 lots situated on 72.7 acres and located in Warner Robins, Georgia. The average occupancy was 95%.

ARC - five all-age communities with 180 lots situated on 39.34 acres and located in Lexington, South Carolina. The average occupancy was 87%.

Countryside - a 110 lot all-age community situated on 35 acres and located in Lancaster, North Carolina. The average occupancy was 92%.

Evergreen - a 65 lot all-age community situated on 28.4 acres and located in Dandridge, Tennessee. The average occupancy was 97%

Golden Isles - a 107 lot all-age community situated on 16.76 acres and located in Brunswick, Georgia. The average occupancy was 72%.

Anderson - nine all-age communities with 167 lots situated on 50 acres and located in Anderson, South Carolina. The average occupancy was 89%.

Capital View - a 32 lot all-age community situated on 9.84 acres and located in Gaston, South Carolina. The average occupancy was 91%.

Hidden Oaks - a 44 lot all-age community situated on 8.96 acres and located in West Columbia, South Carolina. The average occupancy was 85%.

North Raleigh - five all-age communities with 138 lots situated on 135 acres and located in Franklin and Granville counties, North Carolina. The average occupancy was 93%.

Dixie - a 37 lot all-age community situated on 3.43 acres and located in Kings Mountain, North Carolina. The average occupancy was 88%.

Driftwood - a 26 lot all-age community situated on 34.92 acres and located in Charlotte, North Carolina. The average occupancy was 99%.

Meadowbrook - a 94 lot all-age community situated on 40.1 acres and located in York, South Carolina. The average occupancy was 87%.

Morganton - a 61 lot all-age community situated on 31.29 acres and located in Morganton, North Carolina. The average occupancy was 91%.

Asheboro - two all-age communities with 84 lots situated on 45.4 acres and located in Asheboro, North Carolina. The average occupancy was 92%.

Sunnyland - a 73 lot all-age community situated on 18.57 acres and an adjacent parcel of 15 acres of undeveloped land both located in Byron, Georgia. The average occupancy was 84%.

Warrenville - two all-age communities with 85 lots situated on 45 acres and located in Warrenville, South Carolina. The average occupancy was 79%.

Lake Village (fka Spaulding) - a 73 lot all-age community situated on 17 acres and located in Brunswick, Georgia. The average occupancy was 87%.

Solid Rock - a 39 lot all-age community situated on 11 acres and located in Leesville, South Carolina. The average occupancy was 79%.

Red Fox (fka Clyde) - a 52 lot all-age community situated on 9 acres and located in Clyde, North Carolina. The average occupancy was 90%.

Statesville - a 44 lot all age community situated on 12.86 acres and located in Statesville, North Carolina. The average occupancy was 95%.

Timberview - a 55 lot all age community situated on 50 acres and located in Trinity, North Carolina. The average occupancy was 94%.

Northview - a 23 lot all age community situated on 3.75 acres and located in Thomasville, North Carolina. The average occupancy was 93%.

Glynn Acres - a 21 lot all age community situated on 2.9 acres and located in Brunswick, Georgia. The average occupancy was 94%.

Cooley's (aka Wake Forest 2) - a 44 lot all age community situated on 16 acres and located in Youngsville, North Carolina. The average occupancy was 95%.

Country Road (aka Wake Forest 2) - a 28 lot all age community situated on 27 acres and located in Franklinton, North Carolina. The average occupancy was 100%.

Mobile Cottage - a 23 lot all age community situated on 13 acres and located in Morganton, North Carolina. The average occupancy was 91%.

For the year ended December 31, 2022, the company's total portfolio weighted average occupancy rate was 91%.

History

Manufactured Housing Properties Inc., a Nevada corporation, was founded in 2016.