Recreational Realty LLC, an owner, operator and developer of specialized RV and marine storage facilities, announced a joint venture of the company led by funds affiliated with Centerbridge Partners and entities affiliated with WOJO Capital Partners.
Recreational Realty claims to be the first institutional-grade specialized storage company focused on serving the growing storage needs for RVs and boats.
“Over the past several years, we have seen a steadily increasing growth trend, accelerated by the COVID pandemic and the acceptance of a permanent ‘work from anywhere’ lifestyle, which has led to record breaking RV and boat sales,” said Gary Wojtaszek, founder and CEO of Recreational Realty. “Our goal is to become the leading owner, operator and developer of high-quality, purpose-built recreational storage facilities, and the partnership with Centerbridge will accelerate our growth across the country as we build a national platform.”
“Centerbridge is excited to be partnering with WOJO and the team at Recreational Realty. The RV and boat storage business falls squarely within our investment themes, focused on the convergence of increasing experiential leisure trends driving an additional need for storage. Gary is an exceptional business leader and we look forward to working alongside him and the Recreational Realty team to help them build another successful real estate company,” said William Rahm, senior managing director and Global Head of Real Estate at Centerbridge.