(MENAFNEditorial) FARMINGTON HILLS, Mich., March 16, 2018 /PRNewswire/ -- RHP Properties, the nation's largest private owner of manufactured home communities, acquires Brookside Country Club, 421 home sites, in El Monte, California. Following the acquisition, RHP Properties owns and manages 235 communities with 60,163 sites in 24 states.
Brookside Country Club offers an affordable housing solution in a market otherwise dominated by high multi-family rents and single-family home prices. Under 15 miles from downtown Los Angeles, the community is in the commuter friendly City of El Monte. Brookside Country Club is RHP Properties' first investment in California; and was especially compelling for the rare opportunity to fill 139 vacant sites with new homes. When reached for comment, CEO Ross Partrich said "We are excited to announce the acquisition of Brookside Country Club. We plan to bring affordable new homes to the LA market. This property offers us tremendous upside. Our plans are to increase occupancy to almost 100% over the next two years and to make significant capital improvements for our residents." Joshua Mermell, Senior Vice President of Acquisitions, said "Our acquisitions team worked diligently to understand the complexity associated with this transaction and the California environment. Acquiring our first community in California is a nice milestone for RHP Properties and will surely open up new opportunities to further acquire additional MHCs in the state."
RHP Properties is actively looking for new acquisition opportunities. If you are the owner of a manufactured housing community and are considering a sale, please contact Joshua Mermell at (248) 538-3312 or for a free, confidential, no obligation valuation of your property.
About RHP Properties:
Since 1988, RHP Properties and its affiliated entities have rapidly expanded their real estate holdings as the largest private owner of manufactured home communities in the United States. With approximately $3.6 billion in owned and operated assets in 24 states, and 900 employees, RHP has positioned itself to remain an industry leader.
View original content with multimedia: http://www.prnewswire.com/news-releases/rhp-properties-acquires-421-home-sites-in-los-angeles-county-300615430.html
SOURCE RHP Properties
MENAFN1603201800701241ID1096605796
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.