National RV Communities buys Settler's Rest RV Resort

BUYER: NHC-FL140LLC, Scottsdale, Ariz.

SELLER: Settler's Rest RV Park

PROPERTY: 37549 Chancey Road, Zephyrhills

PRICE: $5 million

LAW FIRM ON DEED: Icard Merrill, et al., Sarasota

PLANS, DESCRIPTION: Scottsdale, Ariz.-based National RV Communities LLC purchased the Settler's Rest RV Resort in Zephyrhills for $5 million.

The price equated to $13,157 per lot.

Settler's Rest is a 380-site RV park in Zephyrhills, close to another seven properties owned by National RV Communities. The 25-acre property features a clubhouse, shuffleboard and horseshoe courts, two bathhouses and a laundry facility.

The community will be branded under the Carefree RV Resorts brand name.

“...[P]urchasing Settler's Rest will allow Carefree to acquire one of the three remaining institutional grade destination RV resorts it does not already own on Chancey Road,” says Charles Ellis, vice president of acquisitions for National RV Communities. He says that except for an undeveloped parcel separating the parks, the community will have a total of 1,436 sites on the north side of Chancey Road.

The majority, 85%, of Settler's Rest's lots are leased on a yearly basis.

The RV park runs at an average 87% occupancy.

The new owner plans to repairs the roadway and upgrade the office, clubhouse, landscaping and signage.

Founded in 2005, National RV Communities is the nation's 10th largest owner/operator of destination RV and manufactured housing communities in the U.S. and Canada with 61 communities containing more than 14,000 sites.