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RHP Properties paid $26 million for the Silver Star Village Mobile Home Park, off Hiawassee Rd. and Silver Star Rd. in Orlando.
RHP Properties paid $26 million for the Silver Star Village Mobile Home Park, off Hiawassee Rd. and Silver Star Rd. in Orlando. (Red Huber / Orlando Sentinel)

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.

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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.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407)420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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