VICI Properties Inc. Provides Construction Financing to Kalahari for Indoor Waterpark Resort Development in Virginia
VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, announced today that the Company has agreed to provide an up to $212 million mezzanine loan investment to Kalahari Resorts and Conventions (“Kalahari”) to fund the development of a Kalahari indoor waterpark resort in Thornburg, Virginia (“Kalahari Virginia”).
- VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, announced today that the Company has agreed to provide an up to $212 million mezzanine loan investment to Kalahari Resorts and Conventions (“Kalahari”) to fund the development of a Kalahari indoor waterpark resort in Thornburg, Virginia (“Kalahari Virginia”).
- The 907-key, $900 million indoor waterpark resort officially broke ground in October 2023 and is expected to start welcoming guests by the end of 2026.
- Kalahari Virginia is expected to be 1.4 million square feet inclusive of an indoor waterpark, outdoor waterpark, convention and meeting space, and 10 F&B outlets.
- Kellan Florio, Chief Investment Officer of VICI Properties, said, “We are excited to initiate this partnership with the Kalahari team.