Uniprop was founded in Birmingham, Michigan in 1974 as a diversified real estate equity investment firm. Initial equity capital was provided by individual "qualified investors". The firm's first investments were in office buildings, manufactured home communities, and other income producing properties. In 1978, Paul Zlotoff, company chairman, conducted a strategic review of the company's portfolio and identified manufactured housing as an attractive niche in the investment real estate market. Gradually, Uniprop shifted its focus to manufactured home communities.
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