STAMFORD, Conn.--(BUSINESS WIRE)--KSL Capital Partners Credit Opportunities Fund, L.P. (KSL Credit) announced today that an affiliate of KSL Credit has entered into an agreement to provide a mezzanine loan to finance a portion of the construction of the Phase II expansion by Kalahari Resorts (the Company) of the Kalahari Poconos Resort (the Resort) located in Pocono Manor, Pennsylvania. Phase II includes the addition of 520 rooms and 100,000 square feet of waterpark space to the Resort.
Upon the completion of Phase II in 2017, the Resort will feature the largest indoor waterpark in the United States at a true 200,000 square feet, nearly 1,000 guest rooms, a 100,000 square foot convention center with 65,000 square feet of meeting space, five full-service restaurants, a 30,000 square foot family entertainment center featuring an arcade and other dry amenities, a 10,000 square foot spa, six snack and bar outlets, 6,000 square feet of retail outlets, an outdoor pool with an expanded deck, and an array of outdoor amenities. An affiliate of Kalahari Resorts will manage the Resort.
The Resort joins the Company’s two other properties located in the Wisconsin Dells, Wisconsin and Sandusky, Ohio, which were recognized as the “World’s Coolest Waterparks” by Condé Nast Traveler in 2014. The resorts were also named in USA Today’s “Top 10 Best Indoor Water Parks,” as well as in Fodor’s Travel’s “10 Best Waterparks in the U.S.”
ABOUT KSL CAPITAL PARTNERS CREDIT OPPORTUNITIES FUND, L.P.
KSL Credit is the $386 million credit fund affiliated with KSL Capital Partners, LLC (KSL), an investment firm with approximately $7.1 billion in capital raised since 2005. Through its private equity funds and KSL Credit, KSL specializes in travel and leisure investments across five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL Credit provides first mortgage and mezzanine loans. KSL has offices in London; Denver, Colorado; and Stamford, Connecticut. For more information, please visit www.kslcapital.com.
ABOUT KALAHARI RESORTS
Wisconsin Dells-based Kalahari Resorts is a private developer, owner and manager of African-themed indoor waterpark resorts founded and owned by CEO Todd Nelson and his family. Kalahari’s first property opened in the Wisconsin Dells, Wisconsin in 2000, followed by the company’s second resort in Sandusky, Ohio in 2005. The Wisconsin Dells resort includes 756 rooms, a 125,000 square foot indoor waterpark, a 77,000 square foot outdoor waterpark, a 100,000 square foot convention center, a 110,000 square foot indoor theme park and five restaurants. The Sandusky resort includes 173,000 square feet of indoor waterpark space, 77,000 square feet of outdoor waterpark space, a 215,000 square foot convention center, a 115,000 square foot Safari Outdoor Adventure Park, the largest game arcade in Ohio at 24,000 square feet, and four restaurants. For more information, please visit www.kalahariresorts.com.