Spacious Skies Campgrounds, an owner and operator of 10 campground locations across eight states, recently formed a programmatic venture with Sculptor Real Estate to continue its expansion and acquire more well-located, first-class RV campgrounds nationwide, according to a press release.
Sculptor Real Estate is a real estate private equity fund that has invested in more than $18.2 billion of real estate assets across 27 different real estate-related asset classes, bringing a tremendous breadth of knowledge and experience to the growing Spacious Skies platform. Concurrent with the joint venture formation, Spacious Skies closed on two new recent acquisitions in Tennessee and North Carolina.
“We are encouraged by the demand tailwinds and consolidation momentum we continue to see in the industry and are excited to execute on our shared vision with Sculptor and our existing partners for what Spacious Skies can become,” said Eric Rasmussen, president and director of acquisitions for Spacious Skies. “We are singularly focused on providing authentic outdoor experiences to our customers.”
In early April, Spacious Skies acquired Belle Ridge Retreat in Monterey, Tenn. Comprised of 62 RV sites and cabins, the newly branded Spacious Skies Belle Ridge sits on 589 picturesque acres in middle Tennessee’s Cumberland Plateau with on-site waterfalls, caverns, ATV trails and a natural spring-fed swimming hole. Spacious Skies plans to immediately expand the number of RV sites to capture the pent-up demand for the plentiful outdoor recreation opportunities that Belle Ridge offers, noted the release.
In the same week, Spacious Skies also acquired the newly branded Spacious Skies Sandy Run, minutes off I-95 in the Sandhills region of North Carolina within easy driving distance of Durham, Raleigh and Fayetteville.
