ACRES Capital Corp., together with its subsidiaries, recently originated a $15.9 million loan to fund the acquisition, renovation and combination of Hart’s Camp and Cape Kiwanda RV Resort in Pacific City, OR.

Located on the Oregon coast at the edge of the Three Capes Scenic Route, Hart’s Camp is situated on a 3.4-acre property, and consists of 38 RV sites and seven permanent airstream RVs.

Cape Kiwanda RV Resort is located on a 10-acre tract and consists of 110 RV sites, seven tent sites, 14 cottages and 14 camping cabins for a total of 145 sites. Additionally, Cape Kiwanda includes a pizzeria, a market and a deli with an ice cream shop.

In addition to the acquisition and merger of the two facilities, the loan will fund numerous renovations to the property and improvements to the customer experience including updates to the RV sites, augmentations to on-premises retail offerings and a redesign of the corporate offices for more efficient utilization.

“Pacific City’s reputation as a destination has grown significantly over the last 10 years,” said Mark Fogel, ACRES chief executive officer and president. “Hart’s Camp & Cape Kiwanda RV Resort is well-located for year-round tourism, just steps from Pacific City Beach and outside the State Natural Reserve Area.”

The loan was arranged by Casey Davidson of JLL and originated by Chris Hetzel of ACRES’ Los Angeles office.