RHP Properties Lands $830M in Financing for Manufactured Housing Assets
RHP Properties, along with an unnamed institutional capital partner, has secured $830 million in financing. This will support the acquisition of a manufactured housing portfolio that consists of 36 properties.
Wells Fargo provided the debt, which was arranged by Newmark's Nick Scribani, Chris Lozinak, Samuel Speciale and Jordan Roeschlaub.
Without naming specific regions, Newmark noted in a statement that the assets are located in "supply-constrained markets benefiting from sustained population growth," which are also witnessing strong rent growth. In total, the portfolio consists of 8,340 manufactured housing pads.
The communities are rated either four or five stars. Occupancy across the portfolio exceeds 99 percent, with residential ownership over 95 percent.
A first-quarter report from Partner Valuation Advisors reveals that manufactured housing remains a defensive play in commercial real estate, thanks to income stability and resilience. Occupancy in the sector generally outperforms traditional multifamily assets, as manufactured housing benefits from the affordability constraints seen in the broader housing market.
"Manufactured housing remains one of the most resilient asset classes, underpinned by durable cash flows, high barriers to entry and consistent demand driven by long-term affordability trends," Newmark said in a statement.
According to RHP, which is known for its manufactured home assets, it manages a total of 80,582 home sites across 375 communities in 31 states.
In addition to the financing for the portfolio, RHP has announced other major moves in 2026. For one, it acquired a 226-manufactured home community in La Porte, Texas and announced that it completed a 349-unit community in Southwest Miami.
Source: GlobeSt/ALM