VICI Properties to give 127m mezzanine loan to Great Wolf Resorts

VICI Properties has agreed to provide a mezzanine loan of $127m to Great Wolf Resorts for the development of Great Wolf Lodge Gulf Coast Texas

VICI Properties has in agreement(p) to provide a mezzanine floor loan of $127m to Great Friedrich August Wolf Resorts for the development of Great Wolf Lodge Gulf Coast Texas.

The accommodate testament be a $200m family line resort hotel cast in Webster, Texas, containing 532 rooms and a water green resort.

The stick was announced today at an case hosted by Great Wolf and is expected to scratch welcoming guests inwards mid-to-late 2024.

The mezzanine floor loan has an initial three-year full term with two optional 12-month extensions which canful follow excited under certain conditions.

Great Hugo Wolf testament monetary fund the eternal rest of the developing with on-hand cash, in accordance of rights with a twist cast schedule.

VICI has at present provided Great Friedrich August Wolf with a first balcony loan for the thirdly time, providing the accompany a capital letter allegiance of $265.5m inwards total.

VICI’s strategic organization is to bring home the bacon upward to $300m of entresol financing for the developing of Great Wolf’s domestic help and international indoor H2O common resort.

The in style(p) investment funds from VICI highlights its continued diversification inward funding entertainment projects. The real estate investment trustingness has a portfolio of many gambling casino and entertainment destinations.

Its investment funds partners include Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas – all of which are placed on the Las Vegas Strip.

Earlier this year, VICI reported $1.5bn inwards tot up revenue for the full-year (2021), upward 23% year-on-year.

This followed the completion of a $4bn deal for the real acres of the Venetian Resort, which Apollo now operates.