RHP Properties, Inc. Further Expands Portfolio with Latest Acquisition of 71 Manufactured Home Communities

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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

the nation.

RHP Properties, Inc. continues to aggressively seek acquisitions across

the country. For more information, please visit www.rhp-properties.com.

http://www.businesswire.com/news/home/20130415005342/en/RHP-Properties-Expands-Portfolio-Latest-Acquisition-71

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