Hometown America Acquires Large MHC in New York

One of the largest owners of Manufactured Home Communities (MHC) in the nation, Hometown America Corporation of Chicago, purchased the 101-acre Suffolk County, New York, Thurm’s Estates community.  Renamed Calverton Meadows by its new owner, the 328-lot community requires tenants to be 55 years and older.  It is one of the largest of Suffolk County’s communities that is near the Hamptons and Long Island Sound, according to The Wall Street Journal.  Buddy Martin, of Marcus & Millichap, one of the deal’s brokers, said Hometown paid nearly $66,000 per lot, which is more than double the national average.  He said, “ There are only so many communities on eastern Long Island and they’re never for sale.”  The county has approximately 5,000 factory-built homes, and land scarcity and public opposition will likely prevent additional communities.

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