FOR IMMEDIATE RELEASE
October 10, 2024
Contact: Cyd Hatch
(703) 635-6312 | cydh@corlissco.com

1892 Capital Partners Funds Port Angeles RV@Olympic RV Park, a Getaway to Olympic National Park

PORT ANGELES, WA – 1892 Capital Partners, a boutique direct hard money lending firm, is pleased to announce its funding of the RV@Olympic project, a new transient RV park development located in Port Angeles, Washington. 1892 Capital Partners provided a $4.195 million development loan at a loan to value of 50% and a loan to cost of 60% for the project. Developed and managed by Firm Ridge Real Estate Partners, the project is poised to become a premier destination for outdoor enthusiasts seeking to explore the stunning Olympic National Park.

“RV@Olympic represents not just an investment in a great real estate project, but an investment in the community surrounding Olympic National Park and Clallam County,” said Michael Belasco, President of Firm Ridge Real Estate Partners. “This project will enhance the area by providing a well-planned, best-in-class outdoor hospitality accommodation for travelers seeking to explore one of the nation’s most spectacular natural landscapes. We’re committed to fostering a positive impact on the local economy and environment, ensuring that RV@Olympic enriches the experiences of its visitors and residents alike.”

RV@Olympic will offer the ultimate RVing experience, combining modern conveniences with the beauty of nature. The RV location will feature 98 RV sites, a 24-hour cashier-less store, a main building with check-in, laundry, bathrooms, an indoor community center, a dog park, a dog wash station, a community shower/bathhouse building with private showers and bathrooms, a hot tub area, a kids' playground, a large outdoor community space with firepits and outdoor games, and fiber optic and 5G internet. The project is expected to open in mid-to-late April 2025.  

“We are excited to support sound entrepreneurial real estate moves, such as this project, which aligns with the growing popularity of RV rentals and strategic vacationing,” said Steve Corliss, Principal at 1892 Capital Partners. “The project’s location outside of Olympic National Park, coupled with extensive due diligence to assess the market potential, makes it an attractive investment. We look forward to working with the experienced project management team at Firm Ridge Real Estate Partners to bring RV@Olympic to life; with a five-generation legacy of investing in Washington, our family office is committed to developing Washington into a place where residents and visitors alike can thrive and experience the region's unique charm.”

RV@Olympic is situated just five miles from downtown Port Angeles and the ferry to Victoria, Canada, and Vancouver Island. It's convenient location off Highway 101 makes it easily accessible for travelers from Seattle and beyond.

XXX

About 1892 Capital Partners

1892 Capital Partners is a direct hard money lending firm specializing in tailored financial solutions for real estate builders, brokers, and investors. With over 30 years of experience in real estate development and investing, we offer a unique perspective from both sides of the deal. What sets us apart is our independence—we utilize our own capital, allowing us to remain flexible and responsive to our clients' needs. Our expertise and practical approach enable us to provide creative and flexible underwriting solutions that meet the demands of real-world projects.  

For more information about 1892 Capital Partners, please visit: https://www.1892capital.com

About Firm Ridge Real Estate Partners

Firm Ridge specializes in emerging real estate strategies, both investing in and developing projects with highly vetted, researched, and sound fundamentals.

With a seasoned and sophisticated leadership team and technologically driven solutions, our mission is to offer commercial real estate solutions that enhance the human experience and ensure resilience in our ever-evolving world.

For more information about Firm Ridge Real Estate Partners, please visit: https://firmridge.com/

‍