Newmark Group arranged an $830 million portfolio financing on behalf of RHP Properties and an unnamed institutional capital partner to acquire and refinance a 36‑asset manufactured‑housing portfolio. The deal covers 8,340 manufactured‑housing pads across 36 communities that are predominantly four‑ to five‑star, all‑age, with residential ownership exceeding 95% and occupancy above 99%. Wells Fargo provided the financing.
The portfolio is concentrated in supply‑constrained markets that continue to experience population growth and limited new development, supporting rent growth and stable cash flows. The high ownership and occupancy rates demonstrate the resilience of manufactured‑housing communities, a sector that has become a key component of the national affordability toolkit.
Newmark’s focus on manufactured housing reflects its strategy to target durable, cash‑generating assets with high barriers to entry. The sector’s consistent demand, driven by affordability pressures in the broader housing market, aligns with Newmark’s goal of building a portfolio of assets that deliver steady income and low operating risk.
Wells Fargo’s participation underscores the lender’s long‑standing commitment to the manufactured‑housing market, where it has originated billions in financing over the past decade. The partnership provides RHP Properties with the capital needed to expand and refinance its growing portfolio, while giving Newmark a foothold in a high‑barrier, high‑occupancy asset class.
The transaction strengthens Newmark’s position in a resilient asset class and expands its manufacturing‑housing expertise, positioning the firm to capture continued demand for affordable housing solutions in high‑growth markets.
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