Strong Revenue Growth
Generated revenue of $25.1 million during the second quarter, up 18.1% over the same period last year, driven by acquisitions, lot rent increases, and occupancy growth.
Increased Net Operating Income
Net operating income was $16.7 million with a margin of 66.6%, compared to $14.1 million and 66.2% during the second quarter of 2024.
Improved Same Community Metrics
Same community revenue grew by $2.5 million due to higher monthly lot rents, growth in occupancy, and increased utility reimbursements.
High Rent Collection Rate
Rent collections for the quarter were 99.2% compared to 98.7% last year, demonstrating strong sector predictability.
Community Recognition
Derby Hills Pointe community in Alexandria, Kentucky was named Community of the Year by the Kentucky Manufactured Housing Institute for the fourth year.