RHP Properties, a leading manufactured housing company with $7 billion in assets and 371 communities across 30 states, has recently acquired Pecan Plantation in La Porte, Texas. The community consists of 226 homesites and offers various amenities such as two swimming pools, a clubhouse, fitness center and playground area.
To finance the acquisition of this property located at 3252 W. Plantation Drive, RHP secured a $15.3 million loan from PGIM Real Estate Finance. The seller was FollettUSA – an operator and owner of manufactured homes who held the majority ownership interest in the property – along with a private seller.
This purchase adds to RHP’s already impressive portfolio which includes properties all over the country. In fact, one of their largest recent deals was QuadReal Property Group’s acquisition of eight communities for $330 million in key markets like Dallas and Austin (Texas), Salt Lake City (Utah) and Orlando (Florida).
