RHP PROPERTIES ANNOUNCES PURCHASE OF CEDARVILLE PARK MANUFACTURED HOME COMMUNITY IN WASHINGTON, DC SUBURB WITH 400 HOME SITES

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Nov 03, 2022, 09:00 ET

FARMINGTON HILLS, Mich., Nov. 3, 2022 /PRNewswire/ -- RHP Properties (RHP), the nation's largest private owner and operator of manufactured home communities, has announced the acquisition of Cedarville Park Manufactured Home Community located in the Washington, DC suburb of Brandywine, Maryland in Prince George's County. Cedarville Park is an active senior 55+ community with 260 home sites and an approved expansion planned, bringing the total to 400 home sites.

The Cedarville Park community is prized for its proximity to Cedarville State Forest and its commuting distance to both Washington, DC and Annapolis. RHP plans to invest in the community with upgrades to amenities and utilities as well as road and landscape improvements.

"Prince George's County continues to see population growth, in part due to a booming hospitality sector and one of the largest technology and aerospace sectors in Maryland, which is great for the economy but can also put a strain on affordable housing options for seniors," said Ross Partrich, CEO, RHP Properties. "We are committed to providing homes that are within reach for the 55+ community and cultivating an environment where residents can enjoy all the community has to offer."

Founded in 1988, RHP Properties is the nation's largest privately held owner and operator of manufactured home communities with managed assets of more than $6B, including 369 manufactured home communities nationwide, totaling about 80,083 homes in 30 states. Headquartered in Farmington Hills, Michigan, RHP Properties employs more than 1,000 professionals. For more information visit www.rhp.com.

RHP Properties specializes in, and continues to aggressively seek, acquisitions throughout the United States. Owners of manufactured home communities interested in selling to a highly experienced owner and operator should contact Joshua Mermell, senior vice president of acquisitions at 248-626-0737.

SOURCE RHP Properties