VICI Properties Entered Into Loan Construction Agreement For Up To $150M In Financing To Affiliates Of Homefield Kansas City To Fund Development Of A Margaritaville Resort In Kansas City, Kansas.
Portfolio Pulse from Benzinga Newsdesk
VICI Properties has agreed to provide up to $150M in financing to affiliates of Homefield Kansas City for the development of a Margaritaville Resort in Kansas City, Kansas. The loan has a 3-year term with options to extend for three additional 12-month periods, contingent on specific conditions.
January 23, 2024 | 1:18 pm
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POSITIVE IMPACT
VICI Properties is providing a substantial loan for the development of a Margaritaville Resort, indicating an investment in real estate development and potential future income from the loan interest.
The news of VICI Properties providing a significant loan for a resort development is likely to be viewed positively by investors, as it represents an expansion of their investment portfolio and potential for additional income through interest on the loan. The terms of the loan suggest confidence in the project's success and provide flexibility with extension options.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100