RREAF buys five RV parks for $157M

Part of an overall $700M spend in the space

Dallas-Based RREAF Buys 5 RV Parks for $157 million
RREAF Holdings' Kip Sowden (RREAF Holdings, Getty)

Dallas-based real estate development firm RREAF Holdings has announced a substantial investment in the RV property market, acquiring five RV parks across Alabama, Florida, and Texas. 

The company’s $157 million move signals a strategic pivot toward the thriving outdoor living sector, the Dallas Morning News reported.  

The newly established division aims to provide top-tier, well-situated, and amenity-rich outdoor living spaces catering to middle America’s desires.

The purchased RV parks — Mobile West in Theodore, Alabama; Gulf Breeze in Gulf Shores, Alabama; Bay Palms in Coden, Alabama; Lavendel Resort in Fredericksburg, Texas; and Wildwood in Wildwood, Florida — boast an array of amenities, including resort-style pools, rope courses, and fitness centers. 

This acquisition is part of a broader vision, as RREAF Holdings revealed its intention to secure another set of RV parks later in the year, projected to cost around $550 million.

Construction is slated to transform these properties, introducing additional pads and enhancing existing facilities, with a targeted completion date of 2026.

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Kip Sowden, CEO of RREAF Holdings, identified the changing landscape of remote work and education as pivotal factors driving increased interest in the RV industry. He emphasized the company’s commitment to becoming a major player in this burgeoning sector.

RREAF Holdings — known for its diverse real estate ventures encompassing multifamily, hospitality, resorts, and student housing — currently manages assets exceeding $4.5 billion across 15 U.S. states. 

The company’s recent establishment of a division dedicated to master-planned developments further underscores its ambitious growth strategies. In a notable project, RREAF Holdings is set to create a community featuring approximately 8,500 single-family homes in Midlothian.

Graham Sowden, chief investment officer, highlighted the rising demand for RV parks nationwide, citing a 62 percent increase in RV ownership over two decades. 

The RV Industry Association reported a record-breaking 11.2 million households owning RVs as of 2021.

— Ted Glanzer