Earlier this month, our Executive Director, Warren Kramer, shared the following in an email to our friends and supporters.
Dear friends and supporters of NCF’s co-op conversion work here in the Midwest:
Here are two stories we thought you might find interesting. First, Al Jazeera America recently did a story featuring one of the nation’s largest community owners (Frank Rolfe) and his aggressive business model:
Second, is an article by Frank Rolfe, published in the most recent issue of the industry’s trade magazine, MH Journal, celebrating sale to residents as a good and reasonable exit strategy for investor-owners. Mr. Rolfe is describing sale of the 90-unit Clarks Grove property to its residents, our last resident purchase. (Click here for the article attachment.)
Taken together, these stories neatly tell (1) why we do the work that we do and (2) the prominence and increasing acceptance that manufactured housing community sales to the residents have taken in the industry as a whole. We are close to having another project in central MN, under contract, our largest to date, with Frank Rolfe and his partner, Dave Reynolds.