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Manufactured Home Communities Inc. (NYSE: MHC), reportedly sustained damage to 30 of its 84 investment properties in hurricane-ravaged Florida, with the impact being so serious in the hardest-hit areas that it has temporarily closed two of its park model/RV resort communities, according to Investors Business Daily.
Repairs are underway at most of the properties that suffered damage to some homes and residential structures such as roofs, awnings and carports, the company said in a statement. The two properties that have been closed – one in Arcadia and the other in Punta Gorda – should be ready for reopening by the winter season, the Chicago-based company reported.
“We are particularly thankful that there have been no reported deaths or injuries to our residents or employees,” said Thomas Heneghan, CEO and President of MHC said in the company’s statement Sunday. “Our sympathies go out to those families that have suffered losses. We have begun the process of cleaning up and assisting our customers affected by the events of the past few days. Most new homes purchased over the past few years came through without much, if any, damage.”
In the statement, Manufactured Home Communities (MHC) said it has adequate insurance coverage, including business interruption, and does not believe the immediate impact of the storm will significantly affect results of operations or financial condition and is maintaining its current earnings outlook.
MHC currently owns or has a controlling interest in 209 RV, park model and manufactured home properties with 80,028 sites in 23 states.