NAI Outdoor Hospitality Sells Four Recreational Facilities for $46M
The group has recently closed four RV park transactions across three states.
BASALT, CO – NAI Outdoor Hospitality Brokers has recently sold four recreational facilities across three states for a combined total of more than $46 million.
The facilities total 656 camping units and certain facilities offer the ability to expand within the recreational parks.
The closings include a two-park portfolio located in Durango, CO and Amarillo, TX called Oasis RV Resorts portfolio, which was purchased by the Scottsdale-based MH park and RV park owner Roberts Resorts; Tropical Trails RV Resort in Brownsville, TX, which was purchased by Houston-based multifamily and RV park owner City Street Residential Partners; and Cabin Creek Campground in Jacksonville, NC, which was purchased by Tampa-based private equity real estate owner the Requity Group.
The three transactions were brokered by NAI Outdoor Hospitality Brokers’ Bob Kaplan, Jesse Pine and Sean Wood, accordingly.
“I am not going to describe outdoor hospitality assets, namely RV parks, camping facilities and glamping resorts as recession-proof, but as real estate asset classes go they are pretty close to it,” says NAI Outdoor Hospitality Brokers leader Bob Kaplan. “The nature of the activity is a lifestyle choice that people embrace, invest in with their vehicles and time and more often than not, do with most of their vacation time. And what we have seen during the pandemic and since we have mostly emerged from it is very high occupancy metrics at outdoor hospitality venues.”
Kaplan adds, “Syndicators and private-equity investors are attracted to this asset class for its stability and predictable and reliable cash flows. The gas-price hikes this year and economic volatility of recent months has not frightened capital in this space.”
NAI Outdoor Hospitality Brokers includes Kaplan and his four Colorado-based brokerage team members. The group, which joined NAI Global in January 2022, specializes in buying and selling RV parks, campgrounds and glamping resorts on behalf of investors throughout the US.
In 2021, the team closed 18 transactions across 11 states, totaling more than $84 million in value.
The group is affiliated with the National Association of Recreational Parks & Campgrounds, the American Glamping Association, the Colorado Campground & Lodging Association and the Texas Association of Campground Owners.