BASALT, CO – NAI Outdoor Hospitality Brokers recently sold four recreation facilities in three states for a combined total of more than $46 million.
The facilities total 656 camping units and some facilities offer the possibility of expanding within the leisure parks.
The closures include a two-park portfolio located in Durango, CO and Amarillo, TX called the Oasis RV Resorts portfolio, which was purchased by 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, North Carolina, which was purchased by Tampa-based private equity real estate owner Requity Group.
All three transactions were negotiated by Bob Kaplan, Jesse Pine and Sean Wood of NAI Outdoor Hospitality Brokers.
“I’m not going to describe the outdoor hospitality assets of RV parks, camping facilities and glamping resorts as recession proof, but as the real estate asset classes are changing, they’re pretty close,” says Bob Kaplan, head of NAI Outdoor Hospitality Brokers. “The nature of the activity is a lifestyle choice that people are making, investing in their vehicles and their time and more often than not, doing with most of their vacations. And what we’ve seen during the pandemic and since that we’ve mostly come out of is very high occupancy metrics in outdoor hospitality venues.
Kaplan adds, “Syndicates and private equity investors are attracted to this asset class for its stability and predictable, reliable cash flows. Gasoline price hikes this year and economic volatility in recent months have not scared off capital in this space.
NAI Outdoor Hospitality Brokers includes Kaplan and its 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 across the United States.
In 2021, the team closed 18 deals in 11 states, with a total value of over $84 million.
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.