Riverside Estates is third RV park, first manufactured home community bought by company in metro Atlanta
ROSWELL, GA. (July 15, 2021) – Forrest Street Partners (FSP) purchased Riverside Estates, a 307-site Manufactured Home (MH) and RV resort in Covington, Ga. This is the third RV park and first MH park the company has purchased in the Atlanta area. Riverside Estates is located in the growing Covington area, close to shopping, retail and planned developments. The park has 170 RV sites and 135 manufactured home sites, as well as a clubhouse, pool and playground.
“We love Atlanta and the growth potential to the east along Interstate 20. The whole metro area is underserved on the RV and MH side,” said Reece Stead, a partner at FSP. “In Covington specifically, there are many new residential, retail, office and industrial developments under construction and planned. With this growth comes the need for more workforce housing. Riverside has always catered to the full-time RVers who live and work out of their RV. We believe this resort will continue to serve this community, and being located just off of I-20, we want to extend the park’s reach to the transient RVers who are traveling and visiting the area. On the manufactured housing side, our intention is to improve the aesthetics, roads, and utility infrastructure to fill the remaining vacancies and bring the park to our standards.”
FSP has plans to asphalt the roads in the MH park, pressure wash and re-skirt homes that need updates and add twenty (20) new homes. On the RV side, additions will include a revamped electrical system, new cable and internet, road and site improvements, and refurbishing the pool, clubhouse and bathhouse. FSP has plans to rename and rebrand the park within the next few months.
Added Stead, “We want to build on the excellent job done by the prior owner and continue to improve the park to deliver a great product to our customers.”
In Georgia, Forrest Street Partners owns also owns Jellystone Park in Bremen, Commerce Athens KOA in Commerce and is looking to build its first-class A RV in the Emerson/Cartersville area.
About Forrest Street Partners
Forrest Street Partners is a boutique real estate investment firm. Headquartered in Roswell, Ga., the firm focuses on identifying, repositioning and operating RV parks, manufactured home communities and retail properties across the Southeast. The entrepreneurial team seeks value-add opportunities to provide investors elevated returns by leveraging progressive thinking, collaborative decision-making, a curated network of resources and varied individual backgrounds. The Forrest Street team has decades of experience in lending, acquisitions, construction, repositioning, sales and leasing. Find more information at https://forrest-street.com/ and follow us on LinkedIn @forrest-street-partners.