DALLAS, Nov. 22, 2016 /PRNewswire/ -- North Avenue Capital (NAC), a specialized commercial lender, announced today a $4.5 million loan for Northern Michigan's Most Spectacular Resort - Treetops Resort. Managing Partner, Alex Louis, led NAC's origination and underwriting activities. According to Louis, "NAC is pleased to play a central role in funding Treetops Resort's Lodge and Inn renovation. The capital improvements made with this loan will elevate Treetop's facilities to be in line with the extraordinary recreational experiences and excellent service already found at Treetops Resort." NAC developed the lending structure for the loan, which was funded through the USDA Rural Development Business & Industry program.
Treetops Resort offers guests a retreat with more than 2,100 breathtaking acres, 81 holes of championship golf, including Threetops, North America's #1 Par 3 course, and 23 ski slopes. Complementing the ample outdoor activities includes a unique culinary experience, full-service convention and event venue, and guest accommodations that will be highly sought after as the modernization project commences. General Manager, Barry Owens, has led a true turn-around story at Treetops Resort since joining the team in 2010, and says, "strong financing partners are scarce in this industry and economic climate. NAC has shown their commitment to small businesses in northern Michigan and specifically Gaylord, and is assisting our team to make Treetops Resort one of the premiere destinations in the country."
NAC Chief Executive, Ben Chatraw, commented, "NAC is proud to be part of the Treetops Resort story, and this financing structure is the quintessential example of the USDA B&I program at work: generating meaningful growth that impacts rural communities and the very real people that are investing their lives in these businesses. This impact is exactly why NAC exists."
About North Avenue Capital
North Avenue Capital, ranked as the 6th largest USDA Rural Development lender in the country, is a specialized commercial lender exclusively originating, underwriting, and funding USDA RD loans nationwide. Using its expertise, capital, and relationships, NAC is committed to building businesses, growing economies, and creating jobs in rural America. Visit the website at www.northavenuecap.com.
About Treetops Resort
Treetops Resort is truly the Midwest's "Must Play" resort and arguably the best collection of golf anywhere in the country, boasting five different courses from renowned designers Robert Trent Jones, Sr. and Tom Fazio. Guests can also experience world-class instruction, spa, downhill skiing, snowmobiling, meetings, and a fairytale setting for weddings. Treetops Resorts' winter offerings include some of the finest terrain perfect for families to enjoy all season long. Treetops Resort features 23 ski runs, a terrain park, cross-country skiing, extreme tubing and its signature Culinary Adventure Series. Visit the website at www.treetops.com.
Contact: Joseph Rowell
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SOURCE North Avenue Capital