Bank May Acquire the RV Park it Foreclosed On

April 26, 2012 by   - () Comments Off on Bank May Acquire the RV Park it Foreclosed On

The fate of the Dance Country RV Park in McCloud, Calif., will be determined April 30 at a public auction following a recent foreclosure of the park by Southern California-based OneWest Bank.

In anticipation the bank may acquire the property, it has hired Jalmar Properties Inc., a real estate management company out of Los Angeles to manage and open the park in early May, the Mount Shasta Herald reported.

OneWest officials declined to comment on the story, but Jalmar’s CEO Jim Donell said he was contacted last week by the bank and asked to be prepared to open the park as soon as possible if they retain ownership.

“We are getting geared up to bring the property up to speed as quickly as possible,” Donell said, adding that the 480 reservations the park already has lined up will be honored if his company takes over its operations.

Donell said Jalmar Properties manages in excess of $2.5 billion in properties throughout California, Arizona and Nevada, including several RV parks.

Waterhouse Management Corp. in Roseville had been the reported management company in discussions with the bank to manage the RV park, but Jalmar Properties ultimately was chosen. Donell said a final contract with the bank won’t be signed until after the public auction.

The park, which has been in operation since 1980, attracts hundreds of visitors every year and brings thousands of dollars to the local economy.

The Golden Valley Street Rodders, for example, has been hosting its Volcano Rod Run in McCloud since 2006. Susan Ide, chair of the group, which brings hundreds of classic car enthusiasts to the community each year, said if the RV park reopens they are still committed to their July 6-7 event. She said the group has had great success in McCloud and is considering at least coming to town for a one-day event even if the park is not reopened.

Brian Lowenstein, owner of the McCloud River Lodge, which is located adjacent to the RV park, said he is happy to hear there are plans to open the park for the summer. “We were very concerned about how the foreclosure of the park could impact the lodge’s restaurant as well as other businesses in McCloud.

“The number of people and specialty groups the RV park attracts during the summer months is significant,” he said. “The loss of business generated from those visitors would be felt throughout the town.”

Lowenstein said he hopes the park will sell and reopen quickly.



Comments are closed.