DFW and San Antonio projects are a new asset class for both Provident Realty Advisors and Trez Capital portfolios.
Provident Realty Advisors (PRA), a Texas-based diversified real estate development and investment firm, and the Dallas-based office of Trez Capital, a preeminent provider of commercial real estate debt and equity financing solutions across North America, introduced Provident’s new luxury RV resort platform with the acquisition of two Texas development sites in Burleson and San Antonio, near Lake Calaveras.
Branded as Roaming Trails RV Retreat (RTRV), Provident seeks to fill the demand for best-in-class RV accommodations. RTRV Burleson is 15 minutes south of downtown Fort Worth and will have 196 pads on 22 acres, while RTRV Lake Calaveras off US Highway 181 will have 215 pads on 42 acres. The communities will be gated concrete streets and open space as well as multi-vehicle parking at every pad, back-in and pull-through spots, privacy fenced yards and weatherproof covers. Community amenities include resort pools, package lockers, dog parks, and digital fiber internet.
“We are excited to launch a new platform within the Provident portfolio. Provident is known for discovering a market need and developing to meet that need. As a result of the pandemic creating new travel and work patterns, Provident will provide the housing supply these demanding travelers require. RTRV will be a unique investment platform that we feel will excel in the RV park market,” said Stuart Fink, Provident’s managing director of investments.
RTRV marks Trez Capital’s first venture into RV park financing as an asset class, but the parks are Trez Capital’s sixth and seventh projects they have financed with PRA.
“We are thrilled to be entering into this asset class with Provident Realty Advisors, a strong and experienced developer that remains forward-thinking in its approach to finding new, solid opportunities and turning them into successful community developments,” said Grant Morrow, vice president of origination for Trez Capital, Central & Southwestern. “RV parks are no longer just for vacationers. There has been an influx of travelers and workers looking for a flexible environment that provides all the amenities offered in traditional multifamily communities. RTRV parks have nearby access to major employment and shopping centers, and provide conveniences, facility design and utility upgrades that other RV parks don’t, including 100% concrete parking and sanitary sewer hook-ups in addition to electric.”
Construction on both parks is estimated to begin in quarter four of 2023.
For more information regarding the RTRV platform, please contact Stuart Fink at sfink@providentrealty.net.
About Provident Realty Advisors
Provident Realty Advisors, Inc. is a privately held real estate and investment firm that has thrived through three decades and multiple market cycles with foresight, depth of experience, and a unique ability to adapt to shifting demands, market trends and challenging economic cycles. Provident seeks to provide exceptional risk-adjusted returns to its investor partners through superior development of opportunistic and value-added strategies. Since its formation in 1991, Provident has developed or invested in more than $5.5 billion worth of real estate projects across the country. For more information, please visit www.providentrealty.net.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions across North America. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndications, and joint-ventures; and provides property developers with quick approvals on flexible short- to mid-term financing.
With offices across North America, Trez Corporate Group has over CAD $5.3* billion in assets under management and has funded over 1,700 transactions totaling more than $17.5 billion CAD since its inception. The Dallas office has funded more than USD $6.2 billion in loans. For more information visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $3.0 billion Manager AUM (Trez Capital Fund Management Limited Partnership)).
