Search
 

Chateau to Buy CWS In $570-Mil Deal

GREENWOOD VILLAGE, CO-Chateau will have a portfolio of 220 owned communities, representing approximately 71,220 existing home sites and 38 managed communities representing 8,262 existing home sites.

By John Rebchook | Updated on June 11, 2001

GREENWOOD VILLAGE, CO-Chateau Communities, one of the nation’s largest owners and operators of manufactured home communities, plans to pay $570 million in cash, stock and assumed debt to buy rival CWS Communities Trust based in Dallas. When completed, the acquisition will bring Chateau’s portfolio to 220 owned communities, representing approximately 71,220 existing home sites and 38 managed communities representing 8,262 existing home sites.

CWS, a subsidiary of Security Capital Group Inc., is one of the largest private operators of land lease manufactured home communities in the US.

Its portfolio consists of 46 properties with 16,600 home sites in 12 states. The majority of these communities are in Florida (41%), Texas (21%) and Georgia (17%). In addition, the company has 1,518 expansion sites available for future development and three RV communities with 481 RV sites.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.