RHP Properties Announces The Purchase Of Two Manufactured Home Communities In Two States

Company Expands into Maine and South Carolina/Portfolio Now Includes 27 States

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May 13, 2019, 11:00 ET

FARMINGTON HILLS, Mich., May 13, 2019 /PRNewswire/ -- RHP Properties, the nation's largest privately held owner and operator of manufactured home communities, has announced the acquisition of two manufactured home communities in Maine and South Carolina, bringing the company's total of manufactured home communities to 256 nationwide. This is the first purchase for RHP Properties in both states. The announcement was made by Ross H. Partrich, CEO, RHP Properties.

The communities are Pinetree Estates in Standish, Maine; and Spring Valley in Hanahan, South Carolina, with 224 and 210 sites in each community respectively.

Pinetree Estates is centrally located in southern Maine near Sebago Lake and within minutes of the Greater Portland area. Spring Valley is 20 minutes from downtown Charleston, South Carolina and near two major highways. Both communities are in close proximity to retail and restaurants and provide affordable housing options in two vibrant areas.

"RHP Properties is pleased to announce the purchase of these high-quality manufactured home communities, and expanding our company profile into the states of Maine and South Carolina," said Partrich. "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 256 manufactured home communities totaling more than 64,093 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 $4B, including 256 manufactured home communities nationwide, totaling about 64,093 homes in 27 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