VICI Properties is offering as a lot as $212 million in mezzanine mortgage financing to Kalahari Resorts and Conventions to fund the event of an indoor waterpark resort in Thornburg, Va. The 907-key, $900 million indoor waterpark resort broke floor in October and is predicted to open by the top of 2026.
The mezzanine mortgage has an preliminary time period of 4 years with two 12-month extension choices. VICI’s funding is predicted to be made into the undertaking within the second half of 2025.
That is VICI Properties’ first funding with Kalahari, an operator of indoor waterparks, amusement parks, resorts and conference facilities. Kalahari Virginia is predicted to be 1.4 million sq. ft that may embrace each an indoor waterpark and outside waterpark, conference and assembly house, and 10 F&B shops.
