A Farmington Hills-based real estate investment firm has purchased 71 manufactured home communities for $865 million.
RHP Properties Inc.’s acquisition of the 16,867 home sites makes the 25-year-old company the largest privately held owner and operator of manufactured home communities in the country, the company announced today.
The properties are in Salt Lake City, New York and Florida.
RHP Properties CEO Ross Partrich said in a press release that the deal took 45 days to close.
The deal brings RHP’s $2.25-billion real estate portfolio to 231 manufactured home communities with 51,000 home sites in 25 states.
RHP owns 10 manufactured home communities in Michigan, Partrich said in an email to Crain’s.
RHP also closed on a $333 million deal for 36 manufactured home communities with 6,300 home sites in the Denver area and in Wyoming earlier this year.
Kirk Pinho, Crain’s Detroit Business.