Choosing a Vacation Park Investment Fund: How Do You Evaluate a Fund?
Investment funds for recreational parks vary greatly in terms of management, cost structure, and transparency, and these differences determine your net return. In this article, you’ll learn what criteria to use when evaluating a recreational park investment fund and how to recognize a good fund. We describe how such a fund works—from investment to payout—in a separate blog post about the vacation park investment fund; here, the focus is on making the right choice.
What criteria are used to evaluate a recreational park investment fund?
You evaluate a recreational park investment fund based on the quality of its management, the transparency of its costs, its tax structure, and the degree of alignment of interests. Together, these factors determine whether the targeted return is realistic and sustainable.
The main evaluation criteria are:
Is the return commensurate with the risk and your investment objective?
The property itself, such as its location, condition, and layout
The operator, that is, the person responsible for rentals and day-to-day management
The cost structure, and whether all costs have been adequately included in the forecast
The tax structure, and how the investment is treated for tax purposes
Alignment of interests, or whether the initiators themselves are co-investors
The following sections elaborate on these criteria, using Goldberg Gardens I an example of how a fund can be structured to meet them.
How important is the operator?
The operator is one of the most important factors in evaluating a recreational park investment fund. An experienced rental management company reduces operational risk and increases the likelihood of stable occupancy.
In a market where large chains with hundreds of parks set the tone, scale and brand recognition are a significant advantage. A fund that partners with such an established operator is in a stronger position than an independent operator. At Goldberg Gardens I , leasing and day-to-day operations are handled by Landal, which operates over 260 parks in 8 countries. Fund and asset management are handled by Orange Investment Managers, which oversees Landal’s leasing and maintenance activities.
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Goldberg Gardens I
Why is the cost structure a determining factor?
The cost structure is crucial because hidden or underestimated costs erode the net return. A transparent fund includes all operating costs in its projections, ensuring that the reported return is close to the actual return. When evaluating a fund, consider whether not only the visible costs are included, but also items that are often overlooked, such as major long-term maintenance and financing costs. A return that ignores these items appears more attractive than it actually is. You can read about how these cost items affect the return in our blog post on the return on a vacation home. At Goldberg Gardens I , all costs Goldberg Gardens I included in the fund’s projections, including business expenses, rental and management costs, financing, and all major maintenance.
How is the tax structure taken into account?
The tax structure is an important factor because it determines how your return will ultimately be taxed. A tax-transparent fund is treated differently than direct ownership of a vacation home. When you purchase a vacation home directly, you’ll face an 8% transfer tax, an increase in the VAT on lodging from 9% to 21%, and—as of 2026—an additional tax assessment for personal use. A fund structure handles these issues differently. Goldberg Gardens I structured to be tax-transparent. You can read the full explanation of the tax treatment in our blog about Box 3 in 2026.
Why is it important to align interests?
You should pay attention to the alignment of interests because a fund in which the initiators themselves invest shares a common interest with the participants. If the initiators share in both the profits and the risk, they are more likely to focus on achieving a healthy long-term return. For each fund, check whether the developer and the manager are investing their own capital. In the case of Goldberg Gardens I , the developer and Orange IM Goldberg Gardens I Orange IM Goldberg Gardens I in the fund. This creates a shared stake in the success of the two parks.
How does Goldberg Gardens I rate Goldberg Gardens I these criteria?
Goldberg Gardens I all the criteria mentioned: an established operator, a transparent cost structure, a tax-transparent structure, and project initiators who are co-investors themselves. In addition, the fund offers diversification across two parks in two regions: Vorden in the Achterhoek region of Gelderland and Bleijenbeek in Limburg.The expected return, term, and minimum investment amount are outlined in the information memorandum and summarized in our blog post about the vacation park investment fund. The full rationale, projections, and risk factors can be found in the information memorandum.
See for yourself, and check out Goldberg Gardens I
When evaluating a recreational park investment fund, you should consider the operator, the cost structure, the tax structure, and the alignment of interests. Goldberg Gardens I structured with these factors in mind and, through a single investment, gives you access to two fully developed eco-resorts in Gelderland and Limburg.
Frequently asked questions
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Pay attention to the operator responsible for leasing and management, the transparency of the cost structure, the fund’s tax structure, and whether the fund’s founders are investing alongside investors. In addition, the location, quality, and diversification of the real estate are important.
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An experienced operator reduces operational risk and increases the likelihood of stable occupancy. At Goldberg Gardens I , leasing Goldberg Gardens I by Landal, which operates more than 260 parks in 8 countries, while Orange IM is responsible Orange IM fund and Orange IM .
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A transparent fund includes all operating costs in its projections, including often-overlooked items such as major maintenance and financing costs. At Goldberg Gardens I , all of these costs Goldberg Gardens I included in the fund’s projections.
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Yes. The developer and Orange IM in the fund, which ensures that they share a stake with the participants in the success of the two parks.
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