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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
AUGUST 16, 2004
(Date of Report)
MANUFACTURED HOME COMMUNITIES, INC.
(Exact name of registrant as specified in its Charter)
1-11718
(Commission File No.)
MARYLAND 36-3857664
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
TWO NORTH RIVERSIDE PLAZA, CHICAGO, ILLINOIS 60606
(Address of principal executive offices) (Zip Code)
(312) 279-1400
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
Manufactured Home Communities, Inc. (NYSE: MHC) announced that it has
undertaken a preliminary assessment of the impact of Hurricane Charley on its
operations. MHC has 84 investments in Florida of which 30 properties, located
from Fort Myers on the west coast through Daytona on the east coast, were
affected by the storm. Most of these properties suffered damage to some homes
and residential structures such as awnings, roofs, screen rooms and car ports
caused by wind, wind blown debris, falling trees and tree branches. Clean up
efforts have begun in many of the communities. Two park model/rv resort
communities, one located in Arcadia (379 sites) and one located in Punta Gorda
(206 sites) have suffered substantial damage and have temporarily suspended
operations. The Company expects these communities to be ready for the upcoming
winter season. The Company has adequate insurance coverage, including business
interruption, and the Company does not believe the immediate impact of the storm
will significantly impact results of operations or our financial condition and
is maintaining its current earnings guidance.
According to Thomas Heneghan, CEO and President of MHC, "We are
particularly thankful that there have been no reported deaths or injuries to our
residents or employees. Our sympathies go out to those families that have
suffered losses. We have begun the process of cleaning up and assisting our
customers affected by the events of the past few days. Most new homes purchased
over the past few years came through without much, if any, damage. This industry
has done an impressive job over the years in improving the building standards
for new homes and this factor significantly mitigated the damage experienced in
many of our communities. I also would like to thank our employees for the
tremendous effort put forth in reacting to this hurricane. We had many employees
working throughout the weekend to assess the situation and react as necessary
and that process continues."
The forward-looking statements contained herein are subject to certain
risks and uncertainties including, but not limited to, the Company's ability to
maintain rental rates and occupancy with respect to properties currently owned
or pending acquisitions; the Company's assumptions about rental and home sales
markets; the completion of pending acquisitions and timing with respect thereto;
the effect of interest rates as well as other risks indicated from time to time
in the Company's filings with the Securities and Exchange Commission. The
Company assumes no obligation to update or supplement forward-looking statements
that become untrue because of subsequent events.
Manufactured Home Communities, Inc. owns or has a controlling interest
in 209 quality communities in 23 states consisting of 80,028 sites. MHC is a
self-administered, self-managed, real estate investment trust (REIT) with
headquarters in Chicago.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
MANUFACTURED HOME COMMUNITIES, INC.
BY: /s/ Michael B. Berman
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Michael B. Berman
Vice President, Treasurer and
Chief Financial Officer
DATE: August 16, 2004
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