RHP Buys Iowa MHC Portfolio for $69M

After not too long ago increasing its presence in Delaware, RHP Properties has acquired three manufactured housing communities in Iowa. Public information present Brenton Communities offered the 723-homesite portfolio for a mixed $69.3 million. The acquisition of the all-age properties brings the corporate’s portfolio within the state to 4. Nationally, the client now owns 315 belongings.

One of many properties that RHP acquired in Iowa is positioned at 1285 Purple Fox Approach in Marion. Public paperwork present that Eagle Ridge traded for $30.4 million. The group options 335 homesites, and common-area facilities akin to a playground and clubhouse.

Park View Village in Grimes is one other manufactured housing group that RHP bought. The asset is located at 1900 SE twenty eighth St. and adjusted fingers for $33.3 million. The property contains 309 homesites and incorporates a basketball courtroom.

The final property within the portfolio was 79-homesite Dawn Mill, which was acquired for $5.6 million and is positioned at 314 Dawn Park in Pella. The group incorporates a clubhouse and provides off-street parking.