Lehighton, Pennsylvania – A group of investors, including Deepak Bhatnagar of Flemington, New Jersey, and Kuldeep Kumar of New York, purchased the 48-acre RelaxNation at 1500 Rock Road, Lehighton, for $3.8 million in early June. The investors plan on making many improvements and updates to the year-round vacation and leisure destination that offers both traditional campgrounds and experiential glamping facilities.
“We are adding 10 new cabins, fully renovating a house, and moving a chalet on the property to a better location,” Bhatnagar said. “We also plan to clean up the property, and hire a consultant/ management company to run it.” In addition, the group plans to advertise the property more heavily.
They expect the renovations and improvements to be complete by the end of the year.
The partners own other properties in Pennsylvania including the Hampton Inn, next door to RelaxNation. That’s how they saw it was for sale and believed it was a good investment, Bhatnagar said. The other investors are: Dilbag Singh of Pennsylvania and Namrata Sharma of New Jersey.
RelaxNation is 1/2 mile off of the Pennsylvania Turnpike, conveniently located to Jim Thorpe, Beltzville Dam, Blue Mountain Resort and more.
The gated scenic resort offers guests a variety of amenities for all camping abilities including rustic cottages, RV sites, primitive camping and glamping sites. It also has a swimming pool, fishing, and nightly entertainment. Its sky pavilion, located on the summit of the facility, is available for larger events including weddings.
The new luxury cottages will offer guests the best views overlooking the beautiful Pocono Mountains. “Our great hall will offer daily breakfast, evening reception, and nightly entertainment,” Bhatnagar said. “We will also have a general store for all your travel needs. Guests will be able to come and stay in our newly renovated historic farmhouse with a view of the Pohopoco River.”
Jeff Barber of Lehigh Financial Group LLC in Allentown arranged the financing for the investors to buy the property and make the improvements to it. Bhatnagar said Barber was very helpful and enabled the transaction to go smoothly. Shawn Bogutskie from First Commonwealth FCU in Allentown, was the lender and equally as helpful, Bhatnagar said. Loren Speziale, Esq. of Gross McGinley LLP in Allentown represented the buyers.
Lehigh Financial Group, LLC is a leading source of innovative real estate capital solutions and financing options for commercial customers. The company, based in Allentown, serves the Lehigh Valley region and beyond by providing capital for businesses and investors locally, regionally and nationwide. For more information on Lehigh Financial Group LLC, please see our website at http://www.lehighfinancialgroup.com.
Information provided to TVL by Beth Orenstein on behalf of:
Lehigh Financial Group, LLC
122 North 5th Street
Allentown Pa 18102