North Dakota RV Park Under New Management
Bakken Real Estate Partners, a real estate investment firm focused on investing in the greater Williston Basin Area of North Dakota, has announced the successful acquisition and redevelopment of the Lincoln RV Park.
Located on Highway 85 near city centers such as Williston and Watford City, the 26-acre park can accommodate individuals, families and large companies up to 200 people, according to a news release. In addition to RVs, the park will rent out cabins and allow truck parking with or without hookups.
The park is overseen by a 20-foot tall sculpture of Abraham Lincoln, which was designed by Texas-based artist David Adickes and recently relocated from an outdoor museum that was closing.
"The oil and gas boom in the Bakken region has led to rising demand for housing and various types of infrastructure, ranging from retail shops to apartments and storage facilities," said Ken Hartog, founder and managing member of Bakken Real Estate Partners. "With oil production expected to remain at high levels over the next 20 years, the opportunity for real estate investment in this region is enormous, and we intend to take advantage of this for our investors and clients."
The Bakken formation, which stretches from western North Dakota through eastern Montana up to Saskatchewan, has become an oil production hotspot due to recent advances in hydraulic fracturing, or "fracking." The Bakken shale formation is reported by conservative estimates to contain an oil supply that will last about 50 years.
"There may be disagreement over how long the Bakken shale boom will last, but there's no doubt that the region needs more housing infrastructure," added Hartog. "This is a great opportunity for residential real estate investors."
About Bakken Real Estate Partners
Based in Williston, Bakken Real Estate Partners is a real estate investment firm focused on acquiring and developing properties in fast-growing Bakken region and the greater Williston Basin Area. Prior to founding the firm, founder and managing member Ken Hartog invested primarily in multifamily, residential, and retail real estate in the greater Los Angeles area. Other Bakken-area investment projects include offices and single-family homes.