Hunter Street has partnered with Hickory CRE Lending to provide up to $29.8 million in financing to support the development and construction of two RV parks in Oregon and Washington state for one of the largest owners of RV and mobile home parks in the Pacific Northwest.
The two new parks will consist of a 98-pad site in Oregon and a 170-pad site in Washington. The first location will be near three state parks, an added benefit for transient tourists and long-term residents. The second location will be across from the Clark County Fairgrounds and an 18,000-capacity amphitheater.
"When considering the unmet demand for extended-stay RV parks in the United States, coupled with our confidence in our partners at Hickory, we believe our investment is well positioned while also helping address ongoing challenges with housing affordability," said Neal Johnson, CEO and CIO at Hunter Street.
Tim Bass, founder of Hickory, added that Hickory is pleased to find a partner in
