The nation’s largest private owner and operator of manufactured home communities has acquired 29 manufactured home communities in Illinois, Indiana, and Michigan with more than 4,200 homesites for a purchase price of $184 million.
RHP Properties CEO Ross Partrich said the transaction brings the company’s total of manufactured home communities to 297 nationwide. The communities provide 71,184 homesites.
“RHP Properties is pleased to announce the purchase of the Heritage Portfolio. We are proud to be preserving affordable housing for more than 4,000 families,” Partrich said. “We also plan to improve these communities, including the addition of brand new homes.”
The planned improvements include new or enhanced amenities, playgrounds, and roads. The company also plans to bring in new homes at affordable prices, where residents can enjoy the privacy of a single-family home and all the energy-efficient features and design of today’s new manufactured homes.
“We will be making necessary upgrades to ensure these communities are brought up to the RHP Standard,” Partrich said. “We look forward to becoming active members of these communities and providing our more than 30 years of stable management and ownership experience to our residents.”
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