RHP Properties in Farmington Hills, the nation’s largest private owner of manufactured home communities, today announced it has acquired Brookside Country Club, which offers 421 home sites in El Monte, Calif. Terms of the deal were not disclosed.
Following the acquisition, RHP Properties will own and manage 235 communities with 60,163 sites in 24 states.
Brookside Country Club offers an affordable housing solution in a market otherwise dominated by high multi-family rents and single-family home prices. Located some 15 miles from downtown Los Angeles, Brookside Country Club is RHP Properties’ first investment in California; and was especially compelling for the rare opportunity to fill 139 vacant sites with new homes.
“We are excited to announce the acquisition of Brookside Country Club,” says Ross Partrich, CEO of RHP Properties. “We plan to bring affordable new homes to the L.A. market. This property offers us tremendous upside. Our plans are to increase occupancy to almost 100 percent over the next two years and to make significant capital improvements for our residents.”
Since 1988, RHP Properties and its affiliated entities have expanded their real estate holdings and today is the largest private owner of manufactured home communities in the United States. The company has approximately $3.6 billion in owned and operated assets in 24 states, and employs 900 workers.
RHP Properties says the company is actively looking for new acquisition opportunities among owners of manufactured home communities. For more information, contact Joshua Mermell at 248-538-3312 or JMermell@RHP-Properties.com.