Calgary, Canada-based Parkbridge Lifestyle Communities Inc. has acquired four new properties, adding to the company’s portfolio that includes numerous RV resorts and manufactured housing communities.
According to a press release, the acquired properties feature 974 sites at a cost of approximately $19.1 million. Three of the properties are manufactured home communities with 388 developed sites located in Alberta and Ontario and the fourth is the Bay Port Marina & Yacht facility, a recreational property with 586 boat slips located in Midland, Ontario.
Parkbridge also has entered into agreements to acquire eight more properties, including five manufactured home communities (293 sites, expandable to approximately 550 sites) and three resort communities (1,063 sites, expandable to approximately 1,300 sites) for a total cost of approximately $16.5 million.
Bay Port is the second largest marina in South Georgian Bay and is located 20 minutes from Bay Moorings, another Parkbridge property which accommodates 321 boat slips with capacity to add a 200-site adult lifestyle community.
“The primary operations of the marina and our RV resorts are very similar”, stated Dave Rozycki, president of eastern operations. “The initial service provided to the customer is the rental of a location from which the customer is given the opportunity to experience enjoyable and affordable use of his or her recreational unit.”
Marina slips and RV resorts are typically leased on a seasonal basis to repeat customers.