Manufactured Home Parks prove their profitability: $6 million for Lifestyle Communities

Victorian-based Manufactured Home Park operator Lifestyle Communities, with 1,230 homes under development or occupied after just six years of operation, has announced a $6 million net profit after tax. In 2012 they sold approximately $24 million in housing and received $6 million in management income. They also announced a rights issue to raise a further $36.5 million to retire debt and fund expansion. The two Founders and major shareholders, James Kelly and Bruce Carter, are staying in, subscribing as well.