LoanSafe reports from Wichita, Kansas, the Wichita Eagle says six MHCs in the Wichita area owned by American Residential Communities, Inc. (ARC) will be auctioned off online June 26 and 27. The Denver-based owner is offering nearly half of its local portfolio, comprising 830 homesites, which are 40 percent occupied and listed as distressed. MHProNews.com‘s files indicate ARC has been one of the largest MHC owners in the nation. In the 1990’s the communities were purchased by Affordable Residential Communities and then bought by private equity funds when the housing bubble burst in 2007, and renamed American Residential Communities.
(Image credit: American Residential Communities, Inc.),