Silver Star Village, an age restricted mobile home community on Hiawassee Road, has new ownership.
RHP Properties Inc. paid $26 million last week for the 406-unit community on 67 acres. RHP, based in Farmington Hills, MI, is the nation's largest private owner and operator of manufactured home communities.
Sun Silver Star LLC out of Southfield, MI, was the seller.
RHP owns and manages a total of 224 communities with over 56,349 housing units and sites spanning 23 states, with a combined value of approximately $2.66 billion, according to its website.
Silver Star Village, built in the early 1970s, is one of a dozen communities recently acquired by RHP. German American Capital Corp., a subsidiary of Deutsche Bank, issued a secured loan in the amount of $104 million for the portfolio.
Company officials could not be reached for comment.