DANBURY, Conn., Oct. 8, 2014 (GLOBE NEWSWIRE) -- Athena Real Estate is pleased to announce the acquisition of Atlantic Blueberry RV Park, a 171-site RV Park located in Port Republic, New Jersey. The property, acquired through an Athena affiliate, is located 16 miles from the Atlantic Ocean with approximately 24 million people living within a 100-mile radius of the property. The property was an all-cash purchase with a 35-day window to close. The RV Park has a loyal seasonal camper base, and strong amenities including a recreation hall, swimming pool, Wi-Fi, cable, playground, volleyball, horseshoe pits and laundry facilities. Athena plans to make capital improvements and upgrade this 25 acre RV Park.
Richard J. O'Brien, Chief Executive Officer and Founder of Athena Real Estate, said, "We are extremely pleased to acquire Atlantic Blueberry RV Park. This destination property is in a great location. Seasonal campers from New Jersey and Pennsylvania enjoy the park's close proximity to the Atlantic Ocean and other nearby attractions."
"We expect the purchase of our first New Jersey property to lead to other New Jersey acquisitions, as we like to cluster properties. Athena Real Estate continues to grow and is on pace to close an acquisition each quarter," added O'Brien. The company is seeking value-added acquisitions on the East Coast from Florida to Maine.
About Athena Real Estate
Athena Real Estate, LLC is a real estate investment and advisory firm focused on specialty collateral types, including RV parks, manufactured housing communities, and self-storage facilities. Athena currently operates 13 commercial properties including three RV parks and a hybrid mobile home and RV park. Located in Danbury, CT, the company's operating philosophy is to obtain premium returns by acquiring niche property types where focused management can provide a competitive advantage. Athena was founded in 2004 by Richard J. O'Brien, who is a former executive of a mid-cap public REIT and a large real estate financial services and investment company.
Athena is located at 98 Mill Plain Road, Suite 2A, Danbury, CT 06811.