Outdoor hospitality specialist partners with a nationally-recognized real estate investment company, assumes management of Texas RV Resort portfolio
PORT ARANSAS, Texas, Jan. 24, 2022 /PRNewswire/ -- u">>Blue Water, a premier real estate investment and outdoor hospitality management company based in Ocean City, Md., announced its partnership with Virginia-based National Land Lease Capital (NLLC), as a new management client for Tropic Island Resort and Island RV Resort, a portfolio of almost 400 sites recently purchased by NLLC's affiliated fund management business. This partnership both solidifies the recent acquisition of the Port Aransas, Tx., properties and marks the two companies' expansions into Texas.
"The expansion in Texas broadens our presence ... and we look forward to many projects to come with the team at NLLC."
The ownership group and real estate investment company, NLLC, is led by Yogi H. Singh, Stewart M. Garland, and Pushkal Basavaraj. NLLC specializes in the acquisition, development, management, and repositioning of a diverse spectrum of real estate assets with a focus on the outdoor hospitality sector. NLLC plans to continue expanding its partnership with Blue Water, with the overall goal to assemble a national portfolio of campgrounds and RV resorts with a target value of $200 million within the next two years or less.
"The primary reason we moved to partner with Blue Water is because of their market-leading campground management services, as well as their commitment to creating elite assets and delivering exceptional guest experiences," said Yogi Singh, partner at NLLC. "That, along with their growing relationship and management contracts with Sun Outdoors, the largest outdoor travel company in the industry, further confirms why our partnership is a natural fit."
Currently, Blue Water manages over 20 properties all over the country, with the addition of Tropic Island Resort marking its expansion into Texas. Blue Water is slated to continue rapidly expanding its management portfolio nationwide in the years to come with NLLC.
"We are thrilled to announce this new partnership as it accelerates our growth plan as we advance as the leading outdoor hospitality management company in the country," said Todd Burbage, Blue Water's CEO. "The expansion in Texas broadens our presence in multiple regions throughout the U.S., and we look forward to many projects to come with the team at NLLC."
Tropic Island Resort and Island RV Resort both offer luxury lodging options and a resort-style amenity package year-round, which features amenities such as two pools, a hot tub, dog parks, and golf cart rentals. Accommodations include spacious hotel rooms, beachy cottages with private porches and full kitchens, and paved, full hookup RV pads. These premier outdoor hospitality resorts are just a short golf cart ride from the famed Gulf Coast beaches. Guests can also travel to nearby areas for fishing, shopping, birding, live music, and more.
About Blue Water:
Founded by Jack and Todd Burbage in 2002, Blue Water specializes in investing, developing, and managing RV resorts, campgrounds, hotels, and attractions. Blue Water's integrated approach to marketing, revenue management, and operations has quickly established itself as a hospitality industry leader. With dozens of resort-area properties in East Coast states from Maine to Florida, and new additions out west in Texas, Montana, and Oregon, the Blue Water family is committed to creating elite assets, delivering exceptional guest experiences, and enhancing the communities we serve. To learn more, visit BWDC.com.
About National Land Lease Capital:
NLLC is a real estate development company, specializing in the acquisition, development, management, and repositioning of real estate assets in the outdoor hospitality sector. The firm utilizes a broad base of capital partnerships and prides itself on creating value and direct access to the sector in fund management, strategic joint ventures and other unique platforms for institutions, investment managers, family offices and ultra-high net worth individuals and organizations.
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SOURCE Blue Water Development
Source : https://finance.yahoo.com/news/blue-water-partners-national-land-155000105.html1273