“Several Oregon state agencies are investigating a manufactured home park for seniors in Eugene, amid complaints that it cheated some residents out of thousands of dollars,” says the Associated Press (AP).
“The Register-Guard reports that those investigating the Falcon Wood Village park [sic] include the Department of Justice and the Department of Consumer and Business Services,” per KTVZ.
The Oregon-based Register-Guard newspaper states that it has identified five cases from 2010 to 2013 in which residents agreed to allow the ELS owned community, Falcon Wood Village, to sell their homes for them. But upon sale of the homes, only a small fraction of the ultimate selling price was allegedly paid to the seller.
The claims by residents include that they were in difficult financial straits when they agreed to the sales.
After an internal audit, the Chicago-based Equity Lifestyle Properties, fired its regional manager Jeff Wehrung in Oregon in January, per AP, but the Register-Guard says it is unclear if Wehrung quit voluntarily or was terminated.
ELS says it’s cooperating with investigators.
Because of pending legal claims, the various parties involved are making only limited statements about the matter, summarized by the above.
ELS is a publicly traded company, and one of the largest operators of land-lease communities in the manufactured housing industry. The closing numbers for their stock last night are found in the report linked here. ## (News, analysis, and commentary.)
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Submitted by Soheyla Kovach to the Daily Business News on MHProNews.
Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.