The Dallas-based real estate developer is investing heavily in RV properties.
RREAF Holdings LLC announced Wednesday that it has acquired five RV parks in Alabama, Florida and Texas for $157 million. It also said it plans to acquire a second collection of RV parks this year for an estimated $550 million.
The park features a wide range of amenities including a resort-style pool, lazy river, ropes course, and fitness center.
The new RREAF division is “positioned to provide well-located, high-quality, highly amenity outdoor living properties for Central America,” the company said.
Plans for the five communities include the development of additional pads and upgrades to existing amenities. Construction of the park is expected to be completed by 2026.
One of the communities in Texas was included. That's the Ravendell Resort in Fredericksburg, about an hour northwest of San Antonio.
The community includes:
- mobile westTheodore, Alabama.
- gulf breezeGulf Shores, Alabama.
- bay palmsCoden, Alabama.
- Ravendell ResortFredericksburg
- wild treeWildwood, Florida
The three are located near Alabama's Gulf Coast, where DR Horton, another North Texas company and the nation's largest construction company, acquired the fast-growing homebuilder for about $100 million.
RREAF Holdings has divisions across a variety of real estate sectors, including multifamily, hospitality, resorts, and student housing. The firm and its partners manage his more than $4.5 billion in assets across 15 states.
The company recently established a master-planned development division and is planning a community of approximately 8,500 single-family homes in Midlothian.
Kip Soden, CEO of RREAF Holdings, said evolving remote work and school options are stimulating the RV industry, and the company plans to become a significant player in the space.
As of 2021, RV ownership has increased 62% in 20 years to a record 11.2 million households, according to the RV Industry Association.
“Over the years, we have seen a growing demand for more RV parks across the United States,” said Chief Investment Officer Graham Soden. “RV parks are booming in the ever-growing real estate sector, with homeowners looking to change their residential lifestyle and individuals seeking the comforts of home while on the go.”
