Bank Retains Control of Pine Acres RV Resort
Longtime campers of Pine Acres RV Resort near Raymond, N.H., let out a cheer Monday (April 1) after learning the campground would open on schedule April 15.
The 45-year-old campground went up for auction Monday morning and was ultimately taken back by the bank after one bid of $2 million was received. The bank price was $5.6 million, the New Hampshire Union Leader reported.
A representative from the management company hired by the bank to run the campground this summer told campers on site not to give any more money to Morgan RV Resorts, the company that has owned the campground for the past several years.
Duncan Kirtley said seasonal campers should come by the campground this week with any credit card receipts or canceled checks to prove the payments they already made to Morgan for their seasonal sites, which will be honored. Many campers were concerned about those deposits, which Morgan had been soliciting as recently as last week even with public notice of the auction.
Kirtley declined to name the management company that will be overseeing the campground this summer.
Two well-liked managers, Troy Bittner and Daryle Edyars, will return to manage the campground, he said, another piece of news that elicited cheers from the campers.
Stanley Shea and John Tracy, the two men who started Pine Acres and ran it for 36 years, also attended the auction. Tracy said they will certainly be watching to see if the bank sells the property, and at what price.
The 95-acre property is assessed at $3.3 million, according to town records, but Tracy said he believes the current mortgage on the property is over $5 million.
Seasonal camper Bob Cortez of Nashua said now he just hopes that the campground can be returned to its former glory through good management and the effort of seasonal campers ready to rebuild the campground's reputation.
"It is the best thing that could have happened to this property," camper Nancy MacDonald of Gloucester, Mass., said.