Article Excerpt:
TWST: What is American Land Lease?Mr. Blatz: American Land Lease is a manufactured housing REIT. We do everything from developing and building communities to managing them. We sell homes in our communities and we do continuous community development and management. Our focus is on the retirement sector, so out of our 29 communities, 28 of them are what are called age-restricted communities. As we look toward the future, we intend to develop and manage these communities because we see a growing market. We see a bright future in manufactured housing and, more importantly, in residential land leasing.
TWST: Would you give us an overview of the segment today?
Mr. Blatz: In looking at the current demand, the retiree population
grows on a minute-by-minute, if not a day-by-day basis. That being said,
we've chosen to focus on this particular market segment because we see
it as having a very well-defined customer base that is looking for a
solid value product. This is a generation that grew up making things
happen, and these people are energetic. They want communities that
support an active adult lifestyle. They are not the type to head off
into the sun and sit around idly. They enjoy participating in a variety
of activities as they take pleasure in their well-earned retirement
years. Our primary customers and the demographics we appeal to include
people looking for a vibrant lifestyle, so our communities truly become
lifestyle communities as opposed to simply housing communities, which
makes us a cut above the competition. We offer our customers a desirable
lifestyle at a price that develops into superior value for them.
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