CHAMPION HOME &lt;CHB> SELLS TWO PROPERTIES
  Champion Home Builders Inc said it
  sold the Commerce Meadows 600-site manufactured housing rental
  community in Commerce Township, Michigan, for a pre-tax gain of
  about 900,000 dlrs and the Heron Cay 610-site adult community
  in Vero Beach, Florida, for a nominal pre-tax gain.
      The company said the sales proceeds will be partly used to
  reduce debt. It said it is shifting its focus away from the
  development of communities requiring significant equity and
  having lengthy projected life cycles.
      The company also said along with local landowners and
  investors, it will acquire 33-acre tract Northtowne Meadows in
  the Toledo, Ohio, area for development into 160 home sites and
  three acres of commercial land.
      Terms of the transactions and other parties involved were
  not disclosed.
  

