Dallas-based RREAF Holdings has acquired five RV parks, one in Texas, with a total capitalization of $157 million. The acquisition includes the Lavendel Resort in Fredericksburg, Texas.
The firm plans to develop additional pads and upgrade the parks’ existing amenities, which include entertainment facilities, including, resort-style pools, lazy rivers, rope courses, fitness centers and cabins.
RREAF plans to acquire a second tranche of RV parks this year with an anticipated total capitalization of $550 million.
With the growing demand, RREAF CEO Kip Sowden said the firm is ready to capitalize on the industry, “The RV sector has astonishing growth opportunities stimulated by the economy and the evolution of remote work and school options”.
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Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.