Australia’s Gateway Lifestyle Group has acquired six manufactured home communities (MHC) for $49.3 million ($36.975 USD), according to theaustralian.co.au. The communities are located in New South Wales, Queensland and Victoria, adding 1180 home sites to its portfolio—428 occupied sites and 752 sites ripe for development.
The acquisition, expected to close within two months, will add 600 new residents, and increase the overall number of sites available for development to 4,152.
MHProNews has learned Gateway has its sights set on two additional MHCs valued at over $30 million ($22.5 USD). One is a conversion asset valued at $9.5 million ($7.125M USD), while the other is a ready-built MHC priced at approximately $23 million ($17.25M USD).
Additionally, the company is undergoing an equity-raising campaign of $120 million ($90M USD) for future acquisition and expansion. ##
(Photo credit: intenational.to.au–manufactured home community in Australia)
