CHICAGO-Manufactured Home Communities REIT, the mobile home park trust, says its third quarter FFO fell 10.5% to $15.4 million compared to the same period a year ago. The trust’s CFO predicts less disappointing results for next year.

“With our goal of filling 300 expansion sites in 2001, [the trust] should generate net operating income growth of 5%, resulting in FFO per share growth of approximately 8% to 10%,” says CFO John Zoeller. FFO for the first nine months of the year was $47.4 million, compared to $52.3 million in the same period a year earlier.

Revenues for the first nine months were $165.3 million compared to $160.4 million last year. Average occupancy so far this year is running at 94.1%, while average monthly base rent per site for the Core Portfolio was $357.11 compared to $343,57 last year.

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