According to a press release, the Vedder acquisition positions Carefree as the fifth largest owner and operator of manufactured home and recreational vehicle communities, with 101 communities and more than 27,000 sites.
“The Vedder acquisition gives Carefree a very strong market presence in California, with communities stretching from San Juan Capistrano to Napa Valley. The Vedder Communities’ management philosophy of going above and beyond to provide outstanding customer service, safety, and top-notch facilities to its residents fits very well with Carefree’s core values,” said Colleen Edwards, Carefree’s president.
Carefree CEO David Napp added, “The Vedder portfolio is widely considered to be the best privately owned manufactured home community portfolio in California and one of the best in the country. This is an important strategic acquisition for Carefree, as we look to continue to grow our company in highly sought after retirement and vacation destinations in coastal markets.”
Three of the Vedder communities have won National Manufactured Home Community of the Year awards from the Manufactured Housing Institute, including Alta Laguna in Rancho Cucamonga, Calif.; Lemon Wood in Ventura, Calif.; and Palos Verdes Shores in San Pedro, Calif. Twelve of the 18 Vedder communities are 55-plus adult manufactured home communities.
Terms of the acquisition were not disclosed.