Blue Metric Group, LLC has purchased a $97 million portfolio of seven RV resorts in five states, which it plans to manage using its in-house property management company, Streamside RV Parks and Campgrounds.
The newly acquired properties include:
- Americamps RV Resort & Cottages in Ashland, Va., with 187 sites.
- Indian Waters RV Resort in Indio, Calif., with 247 sites.
- Fayetteville RV Resort and Cottages in Wade, N.C., with 168 sites.
- North Landing Beach RV Resort & Cottages in Virginia Beach, Va., with 222 sites.
- Raleigh Oaks RV Resort and Cottages in Four Oaks, N.C., with 181 sites.
- Twin Grove RV Resort & Cottages in Pine Grove, Penn., with 333 sites.
- Verde River RV Resort & Cottages in Camp Verde, Ariz., with 197 sites.
The portfolio itself was sourced “off market” for Blue Metric Group by Andrew Dohogne and John Sheedy, of Park Brokerage & Commercial Real Estate.
“The sale of this portfolio demonstrates our team’s ability to uncover rare acquisition opportunities outside of traditional channels,” Dohogne said, adding, “The transaction was strengthened by the negotiation of attractive seller financing terms, optimizing the capital structure for the buyer. This closing marks a significant milestone in our ongoing partnership with this client. It is our third major transaction together, bringing our cumulative track record to nine assets acquired across seven states. Out-of-state transactions were handled in cooperation with Parasell, Inc.”
Dohogne noted that all seven parks in Blue Metric’s acquisition are institutional-quality assets in some of the nation’s most resilient outdoor hospitality markets.
“Each location features ‘best-in-class’ amenities and strategic proximity to major metropolitan hubs and natural attractions,” he said, adding, “The portfolio’s mix of RV sites and park-model cottages offers a stabilized income stream with significant ‘value-add’ potential through operational efficiencies and expanded guest programming.”
Headquartered in Phoenix, Ariz., Park Brokerage and Commercial Real Estate has a team of seven brokers in three states who specialize in transactions involving RV park and manufactured home communities in their respective areas of the country.
