NEWS RELEASES
Sun Communities Buys Campground And Waterpark on Virginia’s Eastern Shore
Editor's Note: This news item was retrieved through Delmarva Now's website.
Delmarva Now, a news source covering the Eastern Shores of Virginia, Maryland and Delaware, reports that subsidiaries of Sun Communities, Inc. have purchased a campground and waterpark on Chincoteague Island for $15 million from subsidiaries of Blue Water Development Corporation of Maryland. The purchase includes Maui Jack's Waterpark and the adjacent Chincoteague Island KOA Campground. The Maui Jack's Waterpark property sold for $4.1 million to Sun Maui Jack's Waterpark LLC, a Southfield, Michigan, limited liability company. The Chincoteague Island KOA Campground and adjacent parcels sold to Sun Chincoteague Island LLC, also of Southfield, Mich.
The campground, with an assessed value of $4.7 million according to court documents, has more than 400 campsites as well as cabins and a variety of amenities on 200 acres near Assateague Channel. Blue Water will continue to manage and operate both the campground and Maui Jack’s waterpark, according to Delmarva Now’s sources.
For additional information on Sun Communities Inc., a real estate investment trust which owns, operates or has an interest in 382 manufactured housing and recreational vehicle communities in 31 states and Ontario, Canada, visit the Sun Communities website. Additional information on the properties is available on the Blue Water Development website.