YES! Communities Acquires 64 Manufactured Housing Communities
DENVER, April 5, 2013 /PRNewswire/ -- YES! Communities (in combination with its affiliates), a Denver-based manufactured housing owner/operator today announced that the group had completed their latest acquisition from Denver-based American Residential Communities (ARC), making YES! one of the largest privately-held manufactured housing owner/operators in the United States.
The acquired portfolio consists of 64 manufactured housing communities with over 14,000 home sites located primarily in the major metropolitan markets of Atlanta, Georgia and Dallas, Texas. The portfolio also includes communities in El Paso, and Corpus Christi, Texas as well as Los Alamos and Las Cruces, New Mexico. The YES! Communities portfolio now totals more then 46,000 home sites in 181 communities across 17 states. In conjunction with this purchase, YES! has agreed to hire 180 ARC employees, bringing the YES! team to a total of nearly 800 employees nationwide.
This is the most recent of several acquisitions by YES! since its inception. YES! has seen its footprint grow by more than 300% over a five year period. YES! attributes its remarkable growth to its unique operating model and company culture.
"With this acquisition, we look forward to being able to deliver our unique and truly affordable housing solution to thousands of additional American families," said Andrew Luter, Chief Investment Officer of YES!.
"We want to provide affordable housing that creates value for our customers and gives them the level of service that they deserve. In addition, we want to create an incredible culture that does the right thing for our residents, our employees and investors," stated Steve Schaub, Chief Operating Officer for YES!.
YES! Communities, founded in 2008, owns and operates 181 manufactured housing communities in 17 states, with 46,000 individual home sites. The company currently has nearly 800 employees nationwide. YES! takes a new approach to manufactured home communities and works to build and maintain an environment in each community that reflects their positive YES! attitude. YES!'s unique operating model, personal approach and strong corporate culture has garnered it the Community Operator of the Year award by the Manufactured Housing Institute for the past three years. For additional information on YES!, please visit www.yescommunities.com.
SOURCE YES! Communities