Working together since the summer of 2020, Ryan W. Cox and Blake Gallagher started a partnership focused on acquiring outdoor hospitality assets (RV Parks). In two years, Ryan and Blake acquired four RV Parks with a total of 553 sites. In short order they implemented a value-add strategy and exited two of the four parks to a private equity backed group, SpaciousSkies.
Those exits include Camp Tin Box (now, NY Adirondacks), where our hold period was 18 months with an 47% increase in valuation, and at Camp Sparrow (SC: Peach Haven) with an eight month hold and 59% increase in valuation.
Prior to teaming up, Ryan spent five years working on a multi-family, value-add strategy (4,682 units) in the Dallas/Fort Worth market with Ashcroft Capital. They exited 11 of the 13 deals with tremendous success, while maintaining operations/management of the remaining two.
Blake came to the partnership after working for one of the nation’s largest industrial contractors, where he gained experience in cost estimating and project controls on assignments ranging from small capital projects to multi-billion-dollar plant expansions. During his tenure in the construction industry, Blake also built a successful real estate advisory business where he participated in the acquisition of 35 multifamily and commercial properties totaling north of $350M in transaction value.