A Michigan-based real estate investment firm has bought a manufactured home community outside Mount Joy.
RHP Properties paid $7.2 million for Ridgewood Manor, a 133-site community just off the Mount Joy Road exit of Route 283. The 39-acre property at 98 Breneman Road was first developed in 1972 by Frank Haldeman and was most recently owned by his son, Richard, who said he sold it now because he is retirement age, and “it’s time.”
Like most manufactured home communities, residents at Ridgewood Manor own their house but pay a monthly lease for the lot to put it on. All but a couple of the lots are occupied, and the ones that are empty will soon be filled, Haldeman said.
In the U.S., RHP Properties owns and operates 299 manufactured home communities that contain more than 71,000 homes. With managed assets of more than $6 billion, RHP Properties is the largest, privately-held owner and operator of manufactured home communities in the country.
“RHP Properties is pleased to announce the purchase of Ridgewood Manor, a beautifully landscaped community located just ten miles from Lancaster,” RHP Properties CEO Ross Partrich said in a statement announcing the May 21 sale.
“Nearby to jobs, shopping and mass transit, we are proud to offer an affordable housing option in this region and look forward to providing our more than 30 years of stable management and ownership experience to our residents,” Partrich said.