American Land Lease
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American Land Lease (NYSE: ANL) is a self-administered and self-managed real estate investment trust that owns, develops, acquires, manages and operates resort-style, manufactured home communities for adults.
ANL was formed as a private corporation in 1986 as Asset Investors Corporation. On May 25, 1999 they went public as a Delaware corporation. In August 2000 this corporation merged with Commercial Assets, Inc (AMEX: CAX), and then the company became American Land Lease.
Their corporate headquarters are in Clearwater Florida. The Chairman and CEO is Terry Considine. They operate through a subsidiary, Asset Investors Operating Partnership
American Land Lease has over 7,500 sites in 30 communities in three southern states -- Florida, Alabama and Arizona. That is, three of the top states that retirees want to move to. Their homes are of the same or high quality than site-set homes, offering such choices as master suites, screened sunrooms and lanais, two-car garages, front porches, vaulted ceilings, and walk-in closets. You can choose to use land lease instead of purchasing.
The majority of ANL communities are age restricted for retirees, so older adults will not be living with young couples who have children.
American Land Lease Communities:
The Grove, Reserve at Fox Creek, Brentwood West, Rancho Mirage, Desert Harbor, La Case Blanca, Sun Valley, Lost Dutchman, Forest View, Stonebrook, Brentwood Estates, Park Royale, Lakeshore Villas, Pleasant Living, Riverside Club, Blue Heron Pines, Serendipity, Sunlake, Woodlands, Gulfstream Harbor, Royal Palm Village, Cypress Greens, Sebastian, Park Place, and Savanna Club.
American Land Lease is a REIT well-positioned to benefit from the coming retirement of the baby boomers (they've started, but only in small numbers, as I write). I like that they are diversified in Alabama and Arizona, but they're still mainly concentrated in Florida. Many people will go to Florida, but the state is not big enough to hold all retiring baby boomers, so demand will spill over to other southern states.
Next: Colonial Properties Trust -- owns many commercial real estate properties in the United States Sunbelt area
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