Emanay Park Ventures ("EPV") is a vertically integrated real estate investment platform focused on the acquisition, transformation, and institutionalization of RV park and resort assets across the United States. The platform employs a dual acquisition strategy—combining direct acquisitions with structured park-owner roll-in mechanisms—to aggregate high-quality assets into a scalable portfolio designed for institutional exit.
Proven Value Creation Model
Validated through prior execution (Olympia Village), EPV applies a repeatable operational playbook to increase NOI through season extension, premium unit installation, pricing optimization, and ancillary revenue streams.
Tax-Optimized Investment Structure
EPV integrates cost segregation, bonus depreciation, and short-term rental structuring to generate significant first-year tax shields and enhance after-tax investor returns — enabling potential offset against active income.
Defined Institutional Exit Pathway
EPV is strategically aligned with ParkPro Capital Partners and Blue Metric Group ($250M+ portfolio). Assets aggregate into ~$100M institutional portfolios, sold into Blue Metric's platform with EPV retaining ongoing GP participation.
Emanay's mandate: transform a fragmented, under-institutionalized RV park asset class into a scalable, professionally managed platform capable of supporting institutional ownership, REIT conversion, or public market exit — delivering superior risk-adjusted returns through disciplined acquisition, operational execution, and structured capital deployment.
EPV's investment thesis is based on the convergence of structural market inefficiencies, operational value creation, and institutional exit alignment.
2.1 Fragmented Market Opportunity
Institutionalization at Scale
The RV park sector remains highly fragmented — majority-owned by small operators and family-owned businesses. These properties are typically under-managed, underpriced, and lacking modern revenue optimization strategies. This fragmentation creates a repeatable acquisition pipeline at attractive entry valuations.
2.2 Yield Arbitrage & Cash Flow
Superior Returns vs. Traditional RE
- RV Parks: 8–12%+ cap rates
- Multifamily: 4–6% cap rates
- Retail: 5–7% cap rates
- Strong debt service coverage
- Downside protection via in-place cash flow
2.3 Operational Value Creation
Repeatable Playbook
- Season extension: 6–7 months → year-round
- Premium park model unit installation & monetization
- Short-term rental and hybrid hospitality models
- Pricing optimization and revenue management
- Ancillary revenue streams (resale, retail, services)
2.4 Vertical Monetization Model
Layered Revenue Architecture
- Base real estate income (site rents)
- High-margin unit sales (park models, RVs, cabins)
- Recurring hospitality & lifestyle revenue (STR)
- Memberships, services, ancillary programs
2.5 Tax-Optimized Returns
Structurally Superior Tax Profile
- 30–60% of asset basis eligible Year 1 depreciation
- Cost segregation + bonus depreciation
- STR structuring + IRS grouping rules
- Potential active income offset for investors
2.6 Dual Acquisition Strategy
Capital Efficiency at Scale
- Direct acquisitions — full control & upside repositioning
- Park-Unit Exchange Program — tax-efficient owner roll-ins
- Reduces reliance on equity capital
- Aligns incentives with existing operators
2.7 Defined Institutional Exit
Pre-Aligned Liquidity Pathway
- Blue Metric Group — $250M+ platform buyer
- ~$100M portfolio blocks aggregated for takeout
- EPV + ParkPro retain ongoing GP participation
- Reduces exit uncertainty vs. traditional roll-ups
2.8 Platform-Level Advantage
One Integrated Platform
The combination of high-yield real estate, tax-optimized structuring, scalable acquisition channels, and institutional exit alignment positions EPV as a differentiated platform capable of delivering superior risk-adjusted returns while building long-term enterprise value.
EPV executes a repeatable, systematized platform strategy designed to acquire, transform, and scale RV park assets into institutional-quality investments.
Option 1 — Direct Acquisition
Control Strategy
- Full ownership and operational control
- Complete value-add strategy implementation
- Distressed or mismanaged target properties
- High-upside repositioning opportunities
Option 2 — Park-Unit Exchange
Partnership Strategy
- Tax-deferred owner roll-in mechanism
- Equity units + optional cash consideration
- Family-owned parks seeking succession solutions
- Reduced upfront capital requirement for EPV
Phase 1 — Acquisition & Stabilization
- Financial normalization and underwriting alignment
- Cost structure review and optimization
- KPI tracking and reporting system implementation
Phase 2 — Revenue Expansion
- Season extension (6–7 months → year-round)
- Premium unit deployment (park models, cabins, glamping)
- Short-term rental integration + pricing optimization
- Ancillary revenue activation
Phase 3 — Optimization & Scale
- Margin expansion via centralized operations
- SOP standardization across portfolio
- Portfolio-level synergies (marketing, procurement)
EPV employs a disciplined, criteria-driven acquisition process designed to ensure consistency, scalability, and risk-adjusted return optimization across the portfolio.
Financial Criteria
- Revenue: $500K – $5M (stabilized or near-stabilized)
- Positive in-place NOI or clear path to profitability
- Going-in cap rates: 7–10%+
- Target 10–15%+ yield on cost post-optimization
Physical & Infrastructure Criteria
- Minimum 75–100 sites (or clear path to expansion)
- Adequate utility infrastructure (30/50 AMP, water, sewer)
- Capacity for site expansion or densification
- Ability to support premium unit installation
Location Criteria
- Within 2–4 hour drive of major metro areas
- Waterfront (river, lake) or recreational proximity
- Ski resorts, national/state parks, outdoor recreation
- Strong regional tourism or seasonal traffic
Value-Add Screening
- Below-market site rents with pricing upside
- Limited or no dynamic pricing in place
- Underutilized premium locations (waterfront, view)
- Lack of professional management or digital presence
- Excess land for additional sites
Disqualifiers
- ✗ Severe zoning or regulatory restrictions
- ✗ Insufficient infrastructure for upgrades
- ✗ Remote locations without tourism appeal
- ✗ Environmental or legal liabilities
EPV manages the full acquisition lifecycle — from mandate definition through post-close integration — with every deliverable structured for institutional standards.
Building From Scratch
- Unproven revenue stream
- No employment history
- 12–24 month ramp time
- Uncertain qualification posture
- Higher adjudication and execution risk
Acquiring a Business
- Established revenue & cash flow
- Existing workforce on Day 1
- Documented operational history
- Immediate eligibility evidence
- Stronger institutional posture
Mandate & Criteria
- Budget & timeline
- Industry & geography
- Revenue targets
- E2 fit check
Target Sourcing
- Proprietary deal flow
- Broker relationships
- Off-market outreach
- Sector screening
Financial Underwriting
- QoE analysis
- Valuation modeling
- Cash flow review
- Risk assessment
LOI & Negotiation
- LOI drafting
- Price & terms
- Exclusivity period
- Legal coordination
Due Diligence
- Legal & financial DD
- Operational review
- Compliance check
- Documentation
Close & Integration
- Closing coordination
- Capital deployment
- Filing support
- Ops handoff
EPV's U.S. expansion strategy is anchored by a flagship acquisition and a structured pipeline of near-term and medium-term opportunities, enabling immediate capital deployment and scalable portfolio aggregation.
Revelle's River Resort
- Location: Elkins, West Virginia
- Asset Type: Waterfront RV Resort
- Sites: ~200+ sites
- Purchase Price: ~$5.0M
- In-Place NOI: ~$550K
- Going-In Cap Rate: ~11.0%
- Drive-to demand from Washington, DC (~3hrs)
Value Creation Plan
- Premium park model unit deployment
- STR / hotel-style rental integration
- Tiered pricing and yield management
- Resale commission and ancillary programs
- Conservative Case: +25–50% NOI growth
- Upside Case: ~2.0x NOI expansion
| Property | Location | Purchase Price | Sites | NOI | Cap Rate |
|---|---|---|---|---|---|
| Indian Lake Adventures + Adventure Trails | Ohio | $5.0M | 229 | $513K | 10.3% |
| Conneaut Lake Family Campground | Pennsylvania | $2.2M | 118 | $212K | 9.6% |
| Casual Country Campground | Ohio | $2.05M | 170 | $240K | 11.7% |
| Happy Acres Resort | Pennsylvania | $5.85M | 188 | $525K | 9.0% |
Pipeline Total: $15M+ in near-term acquisitions across Tranche A, with strong in-place cash flow and value-add upside. Tranche B includes Jellystone Park (Akron-Canton, Ohio) — large-format ~300-site resort asset with significant amenity base and operational optimization upside.
EPV has developed a centralized operating infrastructure designed to support scalable acquisition, integration, and optimization of RV park assets across multiple geographies.
5.1 Operating Model
Hybrid Centralized + Local Execution
- Strategic oversight and asset management
- Financial reporting and performance tracking
- Marketing and customer acquisition
- Capital allocation and budgeting
5.2 Marketing & Demand Generation
Multi-Channel Acquisition Engine
- Digital acquisition funnels (paid media, organic)
- Social commerce (TikTok Shop, influencer networks)
- Affiliate and referral programs
- Event-driven sales strategies
- Direct-to-consumer demand generation
5.3 Technology & Data Systems
Data-Driven Operations
- CRM and customer lifecycle management
- Online booking and reservation systems
- Revenue management and pricing optimization
- Real-time KPI dashboards across portfolio
5.4 Shared Services
Centralized Administrative Platform
- Accounting and financial management
- Human resources and staffing support
- Legal and compliance
- Procurement and vendor management
EPV operates through four fully integrated professional service divisions — eliminating gaps, delays, and misaligned incentives between third-party advisors. One engagement. Multi-divisional professional service. Zero gaps.
- Target identification & sourcing
- Financial underwriting & modeling
- LOI drafting & negotiation
- Due diligence coordination
- Post-close integration
- Acquisition pipeline management
- Go-to-market strategy
- KPI monitoring & governance
- Entity formation & structuring
- Purchase & sale agreements
- Operating agreements
- Compliance documentation
- Immigration counsel
- Ongoing corporate governance
- Transaction readiness
- Licenses, permits, certificates
- QoE and historical book review
- GAAP-compliant financial prep
- 12-month model & KPI framework
- Capital deployment tracking
- Monthly close & reporting
- Investor & lender packaging
- Cash flow forecasting
- Tax strategy & compliance
- Site sourcing & underwriting
- Market evaluation & feasibility
- Lease negotiation & execution
- Physical due diligence
- CapEx planning
- Operational activation
- Equipment & vendor coordination
- Transition to live operations
Speed. Parallel workstreams compress timelines — acquisitions and filings advance simultaneously. Control. One firm manages all parties — no misaligned incentives or communication gaps. Scalability. The platform built for initial deployment becomes the foundation for long-term expansion.
EPV is supported by an integrated platform of operating, advisory, legal, accounting, and capital markets capabilities across Emanay's affiliated entities, in addition to strategic partnerships with ParkPro and Blue Metric.
Founding & Executive Leadership
Finance & Capital Markets
Technology
Project Leadership & Operations
ParkPro Capital Partners
Strategic Operating Partner
Experienced RV park investment and operating platform with a demonstrated track record across acquisitions, operations, and monetization strategies.
Principals:
- Tony Reis — Sponsor
- Joe Accardi — Sponsor
- Mark Accardi — Sponsor
Track Record:
- 20+ RV park acquisitions
- 100+ park model & trailer sales
- Site rents scaled $3–4K → $6–10K+
Blue Metric Group
Institutional Exit Partner
Large-scale RV park consolidation platform focused on aggregating high-quality portfolios and transitioning into institutional ownership structures, including REIT and public market pathways.
- $250M+ RV park portfolio
- 30+ operating parks across North America
- Active acquirer of stabilized portfolios
- REIT / public market exit pathway
Post-Transaction Structure
Ownership Split
- Cash flow participation
- Portfolio growth upside
- Ongoing GP involvement
EPV utilizes a structured, institutional-grade capital framework designed to optimize returns, align incentives, and support scalable portfolio growth.
Typical Capital Structure
- Senior Debt: ~70% LTV
- Buyer Equity (Cash): ~10%
- Seller Financing: ~10%
- Seller Equity Roll: ~10%
Target Investor Returns
- Target IRR: 25%+
- Equity Multiple: ~5.0x
- NOI expansion via ops improvements
- High-margin unit sales income
- Tax-optimized cash flow
EPV Equity Structure
- 50% Emanay (incl. platform leadership)
- 50% Operating partners (ParkPro)
- Co-investment by sponsor and operators
- Incentive alignment with portfolio performance
| Fee Type | Rate | Trigger / Notes |
|---|---|---|
| Programming Fee | 3% | Platform programming and setup |
| Acquisition Fee | 2% | Payable at closing — covers sourcing, underwriting, negotiation |
| Seller Finder's Fee | Up to 3% | Off-market transactions — structured into seller-side economics |
| Debt Placement Fee | 1.5% | Applied to acquisition and refinance financing |
| Property Management Fee | 5–8% of Gross Revenue | 8% internal management / ~5% third-party |
| Asset Management Fee | 1.5% | Portfolio oversight, value-add execution, reporting |
| Development Fee | 1.5% | Major capex or expansion initiatives |
| Divestiture Fee | 3% | Applied upon sale, recapitalization, or partial exit |
EPV's financial model is designed to capture asset-level performance, value creation through operational improvements, and portfolio-level aggregation dynamics. Detailed projections to be finalized upon model completion.
Revenue Drivers
- Base site rent (seasonal and year-round)
- Premium unit sales (park models, RVs, cabins)
- Short-term rental (STR) income
- Ancillary revenue (resale, retail, services)
NOI Expansion Framework
- Season extension impact
- Pricing optimization
- Unit deployment and monetization
- Ancillary revenue growth
- Expense optimization and margin improvement
Capital Structure & Returns
- Equity and senior debt structure
- Cost of capital assumptions
- Cash-on-cash return targets
- IRR: 25%+ target
- Equity multiple: ~5.0x target
Exit Economics
- Exit cap rate and multiple assumptions
- Blue Metric portfolio takeout scenarios
- Investor distribution waterfall
- Sensitivity analysis across exit scenarios
EPV's strategy is grounded in a proven, executed model demonstrated through ParkPro's acquisition and transformation of Olympia Village, a seasonal resort-style RV park in Ontario, Canada.
| Initiative | Description | Revenue Impact |
|---|---|---|
| Season Extension | Expanded focus from ~6–7 months to 9–12 months | +10–15% |
| Short-Term Rental Integration | Introduced RV rentals, cabins, and glamping units | +5–10% |
| Premium Unit Monetization | Deployed and sold high-end park model units | +25% |
| Pricing Optimization | Increased rates on premium sites and adjusted pricing tiers | +5–10% |
| Expense Optimization | Streamlined operations and reduced inefficiencies | +5–15% NOI |
| Site Expansion | Added new rentable sites, improved land utilization | +5–10% |
| Ancillary Revenue | Introduced resale commission program and services | +2–5% |
Key Takeaway: Value creation is driven by operational execution, not market appreciation. Multiple revenue streams materially increase per-site yield. This model is directly replicable in U.S. markets — with greater upside potential due to larger addressable markets, higher pricing potential, and 100% bonus depreciation advantages.
EPV's exit strategy is designed to provide defined liquidity pathways, capital recycling, and continued participation in long-term portfolio upside.
Primary Exit
Blue Metric Portfolio Takeout
Aggregate assets into ~$100M institutional portfolios. Execute periodic portfolio sales to Blue Metric. EPV and ParkPro retain ongoing GP participation post-transaction.
Capital Recycling Model
- Acquire and optimize assets
- Aggregate into portfolio scale
- Execute institutional takeout
- Return or recycle investor capital
- Redeploy into new acquisitions
Secondary Exit Pathways
- Private REIT conversion
- Public market listing (REIT or similar)
- Sale to institutional investors or private equity
- Partial recapitalization events
Strategic Advantage: EPV's pre-aligned exit structure reduces exit uncertainty compared to traditional roll-up strategies, provides a defined buyer with demonstrated acquisition capacity, and enables the platform to retain upside beyond the initial exit event through continued GP participation.
CONFIDENTIALITY NOTICE: This Confidential Information Memorandum ("CIM") has been prepared by Emanay Park Ventures ("EPV") and its affiliated entities solely for informational purposes. This document is strictly confidential and is intended only for the person or entity to which it is addressed. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited.
This CIM does not constitute an offer to sell or a solicitation of an offer to buy any securities or interests described herein. All projections, estimates, forecasts, and financial information contained in this document are based on assumptions believed to be reasonable at the time of preparation but are subject to significant uncertainties and contingencies. Actual results may differ materially from those projected.
Past performance of EPV, ParkPro Capital Partners, or any affiliated entity is not necessarily indicative of future results. Investment in real estate involves significant risk, including the potential loss of principal. Prospective investors should consult with their own legal, financial, and tax advisors prior to making any investment decision.
Emanay Park Ventures · Emanay Advisors · 1221 Brickell Ave · STE 900 · Miami, FL 33131 · +1 305-735-9510 · www.emanay.io · © 2025 Emanay. All rights reserved.