RREAF Holdings announces expansion into outdoor living platform
RREAF Holdings announced the launch of its fifth platform: Outdoor Living. The company has completed the acquisition of five RV parks with a total capitalization of $157 million. The properties are in Alabama, Florida and Texas. RREAF plans to develop additional pads and upgrade existing amenities. RREAF is planning an acquisition of a second tranche of RV parks this year, at an anticipated total capitalization of $550 million.
RV ownership has risen over the past two decades, with 11.2 million RV-owning households but only 1.7 million pads with necessary services such as water, sewer and power. With the RV industry expected to nearly increase in value to $64 billion by 2024 and more than $88 billion by 2028, the new RREAF platform is positioned to deliver well-located, high-quality, highly amenitized outdoor living properties catering to middle America.
"The RV sector has astonishing growth opportunities stimulated by the economy and the evolution of remote work and s