A joint venture between South Street Partners and Brighton Real Estate Ventures has secured construction financing amounting to 38 million US dollars. The loan will be used for the development of Camp Margaritaville Resort Golden Isles, a holiday resort for recreational vehicles in the US state of Georgia. Catal Capital is acting as the lender.
The project is being built on a 54-acre site at 7350 Hwy 99 in Brunswick. In total, the development comprises 341 pitches and accommodation units, including 56 so-called casitas and 285 pitches for motorhomes. Completion of the construction project is scheduled for early 2028.
Growing demand for experiential accommodation
Saul Sutton, Managing Partner at Catal Capital, stated that the outdoor hospitality segment is increasingly developing into an institutional asset class. He noted that the driver of this trend is the growing interest in experiential stays. The sponsors had presented a clear vision from the outset, which significantly reinforced the decision to provide the construction loan.
The financing transaction was arranged by real estate services firm Newmark. The advisory team responsible comprised Tyler Dumon and Tate Keir, under the leadership of Jordan Roeschlaub and Nick Scribani.
Extensive leisure infrastructure and brand concept
Margaritaville, a hospitality brand drawing on the lifestyle associated with the music of the late Jimmy Buffett, now counts more than 40 holiday destinations. The portfolio ranges from island resorts and RV parks to casinos and cruise ships. A broad spectrum of leisure facilities is planned for the project in Brunswick:
- —Swimming pool, restaurant and bar operations
- —Clubhouse including retail space and fitness centre
- —Two pickleball courts and an enclosed dog park
- —Bandstand and a boathouse
Sutton emphasised that the project combines a nationally established brand with an attractive coastal market and experienced project partners. Requests for comment sent to South Street Partners and Brighton Real Estate Ventures initially remained unanswered.
