VICI Properties Inc. (NYSE: VICI) launched yesterday that the Agency has agreed to supply a mezzanine mortgage for as a lot as $127.0 million to Good Wolf Resorts, Inc. related to the occasion of Good Wolf Lodge Gulf Coast Texas, a larger than $200 million family resort problem in Webster, TX.
The 532-room indoor water park resort was formally launched for the time being all through a groundbreaking event and is anticipated to begin out welcoming guests in mid-to-late 2024. The mezzanine mortgage has an preliminary time interval of three years with two 12-month extension selections subject to positive circumstances. The funding is anticipated to be funded with cash available in accordance with a constructing draw schedule.
This transaction represents VICI Properties’ third mezzanine mortgage funding with Good Wolf for a whole capital dedication of $265.5 million as part of the Agency’s strategic affiliation to supply as a lot as $300 million of mezzanine financing to assist the funding of the occasion of Good Wolf’s house and worldwide indoor water park resort pipeline.
VICI Properties Inc. is an S&P 500 experiential precise property funding perception that owns one in all many largest portfolios of market-leading gaming, hospitality and leisure places, along with Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of primarily probably the most iconic leisure facilities on the Las Vegas Strip.
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