RHP Properties in Farmington Hills, Michigan, acquired 18 new manufactured-housing communities in 2015, bringing its total number of communities to 226 in 23 states.
RHP Properties’ expansion included its acquisition of a 515-site community in Kansas in March of 2015. In July of 2015, RHP acquired two high-quality communities (all-age and age-restricted) in Las Vegas totaling 609 sites. In September of 2015, RHP added two communities located in the highly desirable Colorado Springs market totaling 387 sites. In November of 2015, RHP ended the year by closing on a portfolio of 13 communities totaling 4,027 sites and located in Florida, New York, Texas, Indiana, Kansas, Michigan and North Carolina.
In total, RHP acquired 5,538 sites in nine states with a total value of about $220 million.