Aventura Resorts Inc. of Bellevue, Wash., may soon be going public in an effort to raise capital for the development of upscale motorhome resorts, according to company officials.
Convinced that there will be strong demand for Aventura Resorts properties because of the shortage of upscale RV sites across the country, the company is currently going through National Association of Securities Dealers (NASD) registration, according to Gerald D. Gawne, Aventura’s CEO.
“We will probably start out trading on pink sheets, but we may consider other markets as well,” said Gawne, adding that the company will likely be publicly traded within a few months.
Aventura Resorts will use investor funds to build motorhome resorts from the ground up and to acquire existing rental properties, which it will convert to ownership resorts, reports Gawne, who says he has logged more than three decades in the RV resort business.
The company plans to develop two categories of parks, targeting snowbirds and weekend RV enthusiasts.
The snowbird resorts will be developed in Sunbelt states and offer a similar concept to those operated by Bermuda Dunes, Calif.-based Outdoor Resorts of America Inc. Aventura’s “weekender resorts” will be located within reach of metropolitan areas across the country.
Motorhome owners who purchase RV sites in both categories of resorts may store their vehicles at these parks, thus eliminating the need for costly RV storage.
Gawne said the financial benefits of purchasing an RV site are particularly worthwhile for metropolitan motorhome owners, who often pay as much as $400 per month to store their vehicles in the city.
“That’s getting close to what your monthly payment would be to own an RV site,” he said. “Resorts positioned near a big city will be perfect examples of having your cake and eating it, too.”
While prices have yet to be determined for Aventura’s RV sites, Gawne said sites across the country sell for an average of $70,000, while premium locations, such as those on corner or view lots, average about $150,000.
Aventura Resorts is currently in negotiations with property owners in the Seattle area for acquisition of the company’s first weekender resort, Gawne said, while talks are underway in the Sunbelt to acquire land for the first snowbird facility.