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Brokerage
Posted: October 2, 2018
Athena Real Estate, LLC affiliate buys Saratoga RV Park
Gansevoort, NY Athena Real Estate, LLC, through an affiliate, has acquired Saratoga RV Park, a 154-site RV park located at 4894 Rte. 50. The property joins a growing collection of RV parks and resorts operating under the umbrella of Applebrook RV Parks.
Richard J. O’Brien, CEO and founder of Athena Real Estate, said, “We are extremely pleased to acquire Saratoga RV Park, which is in a wonderful location for us. We are expanding our RV park and resort portfolio as well as our footprint. This is our first RV park in New York state. We are continually on the hunt for high quality RV parks and resorts to purchase across the U.S.”
Saratoga RV Park offers full amenities and full service sites for seasonal and transient guests. The property is well positioned competitively and provides guests with a strong location to access the fantastic activities and attractions in the area. The property shall be repositioned through capital improvements and the introduction of greater activities. There is also the possibility to expand.
O’Brien said, “Saratoga RV Park provides significant synergies with our other outdoor hospitality assets falling under the Applebrook RV Parks brand.”
Athena Real Estate, LLC (through affiliates) is a real estate investment and advisory firm focused on specialty collateral types, including RV parks, manufactured housing communities, and self-storage facilities. Athena currently operates 21 commercial properties and an RV dealership. Located in Danbury, CT, the company’s operating philosophy is to obtain premium returns by acquiring niche property types where focused management can provide a competitive advantage. Athena was founded in 2004 by Richard J. O’Brien, who is a former executive of a mid-cap public REIT and a large real estate financial services and investment company.
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