Dallas-based RREAF Holdings has moved into the outdoor living space with its fifth platform—by acquiring five RV parks in Texas, Florida, and Alabama for $157 million.

But wait, there’s more: RREAF says it plans to acquire additional RV parks this year, at an anticipated total capitalization of $550 million.

The privately held real estate development firm noted that RV ownership has risen over the past two decades, with 11.2 million households owning RVs but only 1.7 million pads available in the U.S. with services like water, sewer, and power.

The RV industry is expected to nearly double in value to $64 billion by 2024 and to reach over $88 billion by 2028, RREAF said, adding that its new platform “is positioned to deliver well-located, high-quality, highly amenitized outdoor living properties catering to middle America.”

Sector is rolling higher thanks to remote work and school options

RREAF has acquired Bay Palms RV Resort in Alabama along with four other RV parks in three states. [Photo: RREAF]

Kip Sowden, founder and CEO of RREAF Holdings, said the RV sector “has astonishing growth opportunities stimulated by the economy and the evolution of remote work and school options.”

“RREAF Outdoor Living will capitalize on this booming sector of real estate for decades to come,” he added in a statement. “With best-in-class management and highly amenitized options for our guests, we’re creating a new segment in the outdoor living space and plan on being a significant player as we help it evolve.”

From ‘lazy rivers’ to rope courses to ‘glamping cabins’ and more

Amenities across the parks include “resort-style pools, lazy rivers, rope courses, fitness centers, outdoor games, family entertainment facilities, deluxe cabins, golf carts, water slides, basketball courts, pickleball courts, converted ‘glamping’ tiny homes/cabins, mini golf, fire pits, outdoor kitchens, dog parks, onsite laundry, playgrounds, onsite boat and trailer storage, lakes for fishing, zip lining, marinas, and more,” RREAF said.

“We realize that a lot of people are looking to downsize their homes and have an adventure at the same time,” Jason Cherry, partner at RREAF Holdings, said in the statement. “RREAF Outdoor Living parks will supply much-needed additional pads with highly amenitized options to cater to the demand.”

RREAF’s five-year plan sees the firm finalizing site and construction plans. The firm estimates that its branding will be in place across all parks approximately 12 months after takeover. During this time, RREAF will hire and prepare onsite staff.

Construction for all the parks is expected to be completed and operating at total capacity between Q2 2025 to Q1 2026, RREAF said.

‘Taking RV parks to a new level’

“For years, we’ve seen the demand for more RV parks across the U.S. grow,” said RREAF Holdings’ Chief Investment Officer, Graham Sowden. “Between homeowners looking to change up their housing lifestyles to individuals wanting the comfort of their own home while they’re on the road, RV parks have become a booming part of the ever-growing real estate sector.”

“With the launch of RREAF Outdoor Living, we’re taking RV parks to a new level,” Sowden added. “RREAF Holdings is committed to growing this platform for our guests and our investors.” 

RREAF was founded in 2001 and has over 450 direct employees. The firms says that along with its its debt and equity partners, RREAF has built a diversified portfolio in excess of $4.5 billion in assets under management across 15 states.

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