After entering the North Carolina market at the beginning of the year, RHP Properties continues its buying spree. The company has expanded its Delaware footprint with a three-property manufactured housing portfolio. The collection comprises 690 homesites and brings the RHP’s total to seven properties in the state and 311 communities across the country.
The three properties are located in Rehoboth Beach, Del., an upscale resort and beach town situated roughly 120 miles from Washington, D.C., and Baltimore, as well as Philadelphia. The assets offer easy access to the ocean and several retail venues.
Sussex East Lewes is located at 14 Manor House Lane, while Sussex West Lewes is situated at 30769 Lewes Georgetown Highway. The two properties serve 55+ residents and are located along a newly developed pedestrian and cycling trail. The assets share an office, dubbed “The Manor House”, as well as a clubhouse and an indoor pool. The third asset in the portfolio is Colonial East, a community at 27 Colonial Lane that features a pool, playground and clubhouse.
Earlier in April, RHP Properties also acquired Valley View Estates in Shiloh, Ill. The purchase brought the company’s portfolio in the state to 15 manufactured housing communities. The 233-site community is located at 100 Julius Drive on 57 acres, and features a playground and streetlights throughout.