RHP Properties Announces The Purchase Of 17 Manufactured Home Communities In Five States For $170M

Company Expands into Wisconsin/Portfolio Now Includes 25 States

News provided by

Mar 04, 2019, 12:02 ET

FARMINGTON HILLS, Mich., March 4, 2019 /PRNewswire/ -- RHP Properties, the nation's largest privately held owner and operator of manufactured home communities, has announced the acquisition of 17 manufactured home communities in five states containing 3,177 sites -- including its first communities in Wisconsin -- bringing the company's total of manufactured home communities to 254 nationwide. The announcement was made by Ross H. Partrich, CEO, RHP Properties.

With these purchases, RHP Properties now owns and operates the following communities:

Arizona: Crescent Manor in Tucson
Colorado: Crestline Manor and Lamplighter in Colorado Springs
Indiana: Island Grove in DeMotte
Pennsylvania: Redwood Estates in Oakdale; Virginia Hills in Imperial; and Washington Estates and Washington Estates II in Washington
Wisconsin: City View in Kenosha; Wheatland Estates in Burlington; Lincoln Park in West Allis; Village Terrace and Back Acres in Johnson Creek; Hickory Lane in Little Chute; Evergreen Villa in Stevens Point; Lazy Acres in Wausau; and Whispering Pines in Merrill.

"RHP Properties is pleased to announce the purchase of these high-quality manufactured home communities, including expanding our company profile into the state of Wisconsin," said Partrich. "With a strong start to 2019, we look forward to continued growth and opportunities throughout the year. As the need for affordable housing continues in the United States, we are proud to offer high quality homes, become active members of these communities and provide our 30 years of stable management and ownership experience to our residents."

With these acquisitions, RHP Properties now owns and operates 254 manufactured home communities totaling more than 63,659 home sites.

About RHP Properties, Inc.

Founded in 1988, RHP Properties is the nation's largest privately held owner and operator of manufactured home communities with managed assets of $3.8B, including 254 manufactured home communities nationwide, totaling about 63,659 homes in 25 states. Headquartered in Farmington Hills, Michigan, RHP Properties employs more than 950 professionals. For more information visit www.rhp-properties.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