McAdams Joins MHC Inc. Board
Joe McAdams, who retired as Affinity Group Inc. CEO effective Dec. 31, has joined the Board of Directors of Manufactured Home Communities Inc. (MHC), a Chicago real estate investment trust (REIT) that is looking to grow through the acquisition of park model and RV resorts.
“We are pleased to add someone with Joe’s experience to our board,” said Thomas P. Heneghan, MHC’s CEO. “More importantly, Joe has also agreed to chair a board level committee focused on the successful integration and operation of MHC’s park model resort business.
“Joe’s familiarity with the resort industry and its customers create exciting opportunities for MHC’s existing properties and residents.”
On Tuesday (Jan. 27), MHC, a New York Stock Exchange-listed company, revealed it plans to invest in 37 manufactured home and park model resort communities containing 17,040 sites. That group includes 14 properties in Arizona containing 7,444 sites, 12 properties in Florida containing 4,612 sites and 11 properties on the East Coast and in the Midwest containing 4,984 sites.
About 70% of the 37 properties are “park model or ‘village’ resorts” that MHC describes as having lots of amenities and are designed for factory-built park model homes and recreational vehicles.
The 37 properties also have room to add 2,000 more spaces.
Affinity Group is the parent of TL Enterpries Inc., publisher of RV Business and RVBUSINESS.COM.