RV@Olympic

1892 Capital Partners provided a $4,195,000 development loan to support the construction of RV@Olympic, a 98-site RV park located in Port Angeles, Washington, just outside Olympic National Park.

Developed and managed by Firm Ridge Real Estate Partners, the project represents a strategic investment in the growing outdoor hospitality sector, driven by increasing demand for RV travel, flexible lodging, and experience-based tourism.

The Opportunity

RV@Olympic is positioned in a high-demand corridor, with proximity to:

• Olympic National Park
• Downtown Port Angeles
• Ferry access to Victoria, Canada
• Highway 101

This location offers strong access for both regional and international travelers, supporting long-term demand for RV and outdoor lodging.

The project was designed to deliver a modern, amenitized RV park experience, blending convenience, connectivity, and community while preserving the surrounding natural environment.

The Development Plan

The project includes 98 RV sites supported by a comprehensive amenity package designed to elevate the guest experience.

Planned features include:

• 24-hour cashier-less store
• Central building with check-in, laundry, and restrooms
• Indoor community center
• Dedicated shower and bathhouse building with private facilities
• Dog park and dog wash station
• Hot tub and outdoor gathering areas with firepits and games
• Children’s playground
• High-speed fiber optic and 5G internet connectivity

This level of infrastructure positions RV@Olympic as a best-in-class offering within the outdoor hospitality market.

The Financing Solution

1892 Capital Partners structured a development loan aligned with the borrower’s construction timeline and stabilization plan.

The structure provided:

• Capital to support ground-up development
• Flexibility aligned with construction and lease-up timelines
• Certainty of execution for a time-sensitive project
• A clear path toward stabilization and refinance

The underwriting focused on location strength, sponsor experience, and market demand, rather than relying on in-place income.

Why Development Financing Made Sense

Outdoor hospitality has continued to expand as a real estate asset class, driven by shifts in travel behavior and demand for flexible accommodations.

However, development projects in this space require:

• Capital that understands non-traditional hospitality assets
• Flexibility during construction and ramp-up
• Alignment with longer stabilization timelines

This financing allowed the borrower to move forward with a well-positioned project in a high-demand market.

Execution & Outcome

1892 Capital Partners successfully funded the development of RV@Olympic, supporting a project that contributes to regional tourism and economic activity in Clallam County.

The project is scheduled to open in mid-to-late April 2025, at which point the borrower will focus on stabilization and long-term financing.

This transaction reflects 1892’s approach to lending: supporting thoughtful development, backing experienced operators, and aligning capital with real market demand.