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News for January 23, 2022

ACRES Capital to Acquire Hart’s Camp, Cape Kiwanda RV Resort

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ACRES Capital Corp., a renowned commercial real estate middle-market lender, has secured a $15.9-million loan to finance the acquisition, renovation, and combination of Hart’s Camp and Cape Kiwanda RV Resort in Pacific City (Oregon).

Hart’s Camp features 38 RV sites and seven permanent Airstream RVs.

Cape Kiwanda RV Resort comprises 110 RV sites, seven tent sites, 14 cottages, and 14 camping cabins. It also has a pizzeria, a market, and a deli which includes an ice cream shop.

Alongside the acquisition and the merging of the two facilities, the loan will be used to fund numerous renovations to the property and enhancements to the customer experience. These include improvements to the RV sites, retail options, and a revamp of the corporate offices to ensure better utilization.

“Pacific City‘s reputation as a destination has grown significantly over the last ten years,” said ACRES Chief Executive Officer and President Mark Fogel. “Hart’s Camp & Cape Kiwanda RV Resort is well located for year-round tourism, just steps from Pacific City Beach and outside the State Natural Reserve Area.”

Casey Davidson of JLL arranged the loan, and Chris Hetzel of ACRES‘ Los Angeles office originated it.

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