FARMINGTON HILLS — 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.