FARMINGTON HILLS, Mich., Sept. 10, 2018 /PRNewswire/ -- RHP Properties, the nation's largest private owner of manufactured home communities, acquires Shady Park, 304 home sites, in Selbyville, DE. Following the acquisition, RHP Properties owns and manages 237 communities with 60,482 sites in 24 states. RHP Properties' Delaware presence grows to three communities with 1,313 sites.
Shady Park is a resort-style manufactured home community near the southern coast of Delaware, minutes from Fenwick Island, Delaware and Ocean City, Maryland. The local area has long been a destination environment but is now attracting year-long residents as baby-boomers retire and families seek out Delaware. The area surrounding Shady Park has been a hotspot for upscale developments in recent years and continues to demonstrate strong population and housing growth.
Shady Park is RHP Properties' third investment in Delaware. When reached for comment, CEO Ross Partrich said, "We are excited to announce the acquisition of Shady Park. I would like to extend to our new residents how honored we are to take over from the Gray family. They have done an outstanding job with Shady Park, and, like the Grays, we are committed to a high level of customer service and look forward to continuing their legacy in Selbyville."
Joshua Mermell, Senior Vice President of Acquisitions, said, "Our acquisitions team worked effectively in this transaction to provide a nice outcome for both buyer and seller. Acquiring our third community in Delaware is a great milestone for RHP Properties and will surely open up new opportunities to further acquire additional MHCs in the state."
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.
Contact Information: Joshua Mermell, Senior Vice President of Acquisitions (248) 538-3312 [email protected]