FARMINGTON HILLS, Mich.–(BUSINESS WIRE)–RHP
Properties, Inc. is now the nation’s largest privately-held owner
and operator of manufactured home communities. In partnership with
NorthStar Realty Finance Corp., RHP Properties, Inc. today announced its
most recent $865 million acquisition, a manufactured housing portfolio
comprised of 71 communities containing approximately 17,000 home sites.
The properties are located in strong growth markets, including
communities in Utah (Salt Lake City), New York, and Florida.
“We are pleased with our latest acquisition located in dynamic housing
markets across the country. I am very proud of the partnership team, as
it was an enormous effort to close a transaction of this size in a total
of only 45 days,” said Ross Partrich, CEO of RHP Properties, Inc. “With
the purchase of these communities, we look forward to continuing to
provide tremendous value for our current and future residents.”
Earlier this year, RHP Properties, Inc. in partnership with NorthStar
Realty Finance Corp. expanded its portfolio by completing a $333 million
acquisition that was comprised of 36 communities containing 6,269 home
sites. The communities are primarily located in the Denver Metropolitan
Area and Wyoming.
About RHP Properties, Inc.
Founded in 1988, RHP
Properties, Inc., specializes in the acquisition and professional
management of manufactured home communities, and is now the nation’s
largest privately-held owner and operator. Headquartered in Farmington
Hills, Michigan., RHP Properties, Inc., employs over 900 professionals
nationwide. Its current portfolio includes 231 manufactured home
communities, totaling approximately 51,000 home sites across 25 states,
and is valued at $2.25B.
Additionally, RHP Properties, Inc. also provides third party management
and receivership services for the manufactured home community industry
to all of the major special servicers and banking institutions across
RHP Properties, Inc. continues to aggressively seek acquisitions across
the country. For more information, please visit www.rhp-properties.com.