Bank Retains Control of Pine Acres RV Resort

April 3, 2013 by   - () 1 Comment

A springtime view of Pine Acres RV Resort in New Hampshire.

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.



One Response to “Bank Retains Control of Pine Acres RV Resort”

  1. Steve on April 25th, 2013 8:44 am

    Morgan RV Park “Adirondack Gateway” as well as Colbrook RV park in Saratoga County NY are in the process of being taken by the mortgager “MLCFC 2007-9 ACR MASTER SPE, LLC” through Saratoga County Civil Supreme Court.

    Seasonals have so far been refused park access and it’s unclear at this time if the parks will open as scheduled on May 1st. These two parks have also been taken off the Morgan official website and can no longer be accessed or booked.

    The Morgan reservation center representatives are refusing to disclose any information and no reservations are being taken for these parks!

    The legal information can be obtained on the following links. The parks are listed under “American Camping Resorts” AKA Morgan Recreation Destination.