Judge approves purchase of Sandy Pines Campground
Streamside Parks Secures Sandy Pines Campground in Kennebunkport After Bankruptcy Judge Approval
A Maine district bankruptcy judge’s approval has cleared the way for Streamside Parks LLC to purchase the Sandy Pines Campground in Kennebunkport, a popular vacation spot on the state's southern coast. The $13.5 million transaction, which will include the entire 46.25‑acre property, was signed off by District of Maine bankruptcy Judge Michael Fagone on Tuesday, allowing the sale to proceed.
The campground, which opened its doors for the 2026 season, boasts 268 campsites, a heated saltwater pool, and a range of lodging options from cabins to RV hookups. Court documents show that the site has more than $16 million in assets but carries over $20 million in liabilities, a situation that led its former owner, Atlantic Hospitality, to file for Chapter 11 bankruptcy in February.
“Streamside has put down a deposit that allows it a little more than a month to close the sale,” said Stefan Keenan, real estate division manager for Keenan Auction Company, which is handling the transaction alongside commercial real‑estate firms Hunneman and CBRE. “If things go according to plan, the sale will be completed in midsummer.”
The property had been slated for a foreclosure auction in March, but the auction was postponed as the bankruptcy process unfolded. With the judge’s recent approval, the sale can now close, potentially by the middle of the year.
“We’re excited to add Sandy Pines to our portfolio,” said Streamside Parks Chief Growth Officer Jen Milam in a written statement released that evening. “This is a meaningful acquisition for our team, as many of us have admired and followed this particular property for the last few years. We look forward to becoming part of the Kennebunkport story and plan to operate this property in a way that is deeply local in character, honoring both the history of the property and its place in the community.”
Streamside Parks is a nationwide operator of RV parks and campgrounds. In addition to its new Kennebunkport location, the company owns sites in Arizona, Montana and Pennsylvania, among other states. Its acquisition of Sandy Pines marks the company’s continued expansion into the Maine market.
The sale is expected to close within a month of the judge’s approval, with a final settlement projected for midsummer. If the deal closes, Streamside will assume ownership of the property’s 268 campsites, heated saltwater pool and various lodging options. The company has indicated it plans to preserve the campground’s historic character while investing in local improvements.
The approval comes at a time of financial uncertainty for Atlantic Hospitality, which is restructuring under Chapter 11. The $13.5 million purchase price, though modest compared with the property’s total asset value, reflects the high level of debt the campground carries.
As the transaction moves toward completion, visitors can still expect the campground to remain open for the 2026 season. Once Streamside Parks takes over, it will bring its experience managing similar properties nationwide, while pledging to respect the unique charm that has made Sandy Pines a beloved destination for families and outdoor enthusiasts.
