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ROC COMMUNITIES ANNOUNCES FIVE ACQUISITIONS

 ENGLEWOOD, Colo., Nov. 18 /PRNewswire/ -- ROC Communities Inc. (NYSE: RCI), a self-administered real estate investment trust (REIT) owning manufactured home communities, announced today that the company's board of directors has approved five properties for acquisition, pending final due diligence. "We have entered into firm contracts on two manufactured home communities in Boise, Idaho, one in Grand Forks, North Dakota, one in Bradenton, Florida, and one in Greeley, Colorado," announced Gary P. McDaniel, president and chief executive officer of ROC. "We are very pleased with these pending acquisitions," he continued. "They fit our investment criteria and business plan and, as we have other properties located in all four areas, we can take advantage of economies of scale. We look forward to completing the due diligence phase of the process and adding these communities to our existing REIT portfolio," he concluded.
 The two Boise properties contain 240 residential sites, 104 mini- storage units, and 135 RV storage spaces. The Grand Forks property has 174 homesites. The Bradenton community and the Greeley community have 295 and 226 homesites, respectively. The Bradenton property has the additional potential to expand to a total of 759 homesites if the company exercises its option on additional land adjacent to the community. The five acquisitions combined total 935 homesites with additional potential expansion to a total of 1,694 homesites. ROC's existing portfolio includes 10,763 homesites.
 The proposed total acquisition price for these five properties is $16,862,000. "The funds available from the underwriter's overallotment (from the company's initial public offering which concluded on Aug. 19, 1993) will be used to fund these acquisitions," McDaniel explained. "We will invest all of the remaining overallotment funds through these transactions, increasing the total number of properties within the REIT to 52. We expect to close on four of the properties by year-end and on the final property in the first week of January 1994," McDaniel concluded.
 ROC Communities, based in Englewood, currently owns and manages 47 manufactured home communities in 27 states. An additional 38 manufactured home communities across the United States are managed by the company.
 -0- 11/18/93
 /CONTACT: Cynthia A. Chase or Steven G. Davis of ROC Communities, 303-741-3707/
 (RCI)


CO: ROC Communities Inc. ST: Colorado IN: SU: TNM

BB -- DV002 -- 6026 11/18/93 12:29 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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