RHP Properties, Inc. Further Expands Portfolio with Latest Acquisition of 71
Manufactured Home Communities
Michigan-based, privately owned and operated real estate investment firm
continues aggressive nationwide growth
FARMINGTON HILLS, Mich. -- April 15, 2013
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.
Jason Brown, 248.252.1687
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