Stratum Holdings Corp.

Stratum Holdings is a self-administered, self-managed, vertically integrated owner and operator of manufactured housing communities. It earns income from (i) leasing manufactured home sites to tenants who own their own manufactured home and (ii) leasing manufactured homes owned by the company to residents of the communities. Stratum Holdings owns and operates 55 manufactured housing communities containing approximately 2,579 developed sites and 1,394 company-owned manufactured homes. Its communities are located in Georgia, North Carolina, South Carolina and Tennessee. The company states that its mission is to provide affordable housing and an improved level of service to its residents, while producing an attractive and stable risk-adjusted return to its investors. It believes that manufactured housing is one of the few non-subsidized affordable housing options in the U.S., and that manufactured housing is an economically attractive alternative to traditional single-family and multi-family housing, as it provides characteristics of single-family housing (no shared walls, dedicated parking and a yard) while being competitively priced to multi-family housing. The company was originally incorporated in the State of Nevada as Frontier Staffing, Inc. on September 3, 2003. On October 12, 2017, Mobile Home Rental Holdings LLC, a North Carolina limited liability company engaged in acquiring and operating manufactured housing properties, merged with and into the company; in connection with the merger, the company was renamed Manufactured Housing Properties Inc., and the former business and management of Mobile Home Rental Holdings became the business and management, respectively, of the company at that time. In connection with its acquisitions of manufactured housing communities, the company has established various limited liability companies to hold the acquired properties, and it consolidates these entities and VIEs where it is primary beneficiary.