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.