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Athena Real Estate Expands Portfolio with Acquisition of Waterside Campground & RV Park

Athena Real Estate announced its acquisition of Waterside Campground & RV Park, located at 475 Locust Road, Lewistown, PA, through an affiliate. This acquisition marks a significant expansion for the firm as it enters its ninth state. The RV park boasts picturesque waterfront views of the Juniata River and Pennsylvania Canal, making it an appealing destination for outdoor enthusiasts and families alike.

Covering 167 acres, Waterside Campground & RV Park features 234 sites with full amenities and offers expansion potential. Its strategic location allows it to serve over 10 million residents within a three-hour drive, including major markets such as State College, Harrisburg, Williamsport, Philadelphia, Pittsburgh, and Baltimore. The acquisition adds to the portfolio of Applebrook RV Parks & Resorts, the outdoor hospitality division of Athena Real Estate, which now operates 13 properties.

Waterside Campground & RV Park is situated between two waterways, providing guests with access to waterfront sites, pontoon boat rides, a boat launch, and fishing opportunities. Visitors can also enjoy a beautifully landscaped river walk, enhancing the park’s appeal. The amenities include a guest lodge, heated pool, biking and hiking trails, a convenience store, and a variety of games and activities suitable for families.

The surrounding area offers a wealth of attractions, ensuring that families have plenty of entertainment options during their stay. The Juniata Valley is home to local breweries, wineries, and vibrant festivals, such as Goose Day, Festival of Ice, and Harvest Fest. Additionally, the property is conveniently located near Harrisburg, known for Hershey Park; State College, home to Penn State University; and Williamsport, famous for the Little League World Series.

According to a press release, Richard O’Brien, CEO of Athena and Applebrook RV Parks & Resorts, expressed enthusiasm regarding the acquisition. He stated, “Waterside is a beautiful RV park in an excellent location, and we’re excited to take the reins and elevate the asset to meet our high standards.” O’Brien emphasized plans to introduce additional activities and improvements to enhance the overall guest experience and boost occupancy rates.

The acquisition aligns with Athena Real Estate’s strategy to invest in specialty properties, focusing on RV parks and resorts, manufactured home communities, and self-storage facilities. With 27 commercial properties under management, the company aims to achieve premium returns by acquiring niche property types that benefit from targeted management.

Founded in 2004 by Richard J. O’Brien, Athena Real Estate has developed a reputation for its focused investment approach. O’Brien, a former executive of a mid-cap public REIT, leverages his experience in real estate financial services and investment to guide the company’s growth and strategic direction.

Featured image by Waterside Campground & RV Park via watersidecampground.com

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Hi, you might find this article from Modern Campground interesting: Athena Real Estate Expands Portfolio with Acquisition of Waterside Campground & RV Park! This is the link: https://moderncampground.com/usa/pennsylvania/athena-real-estate-expands-portfolio-with-acquisition-of-waterside-campground-rv-park/