Kroenke Sports and Revesco Properties receive financing for pre-development project

A partnership of Kroenke Sports and Entertainment (KSE) and Revesco Properties has received $124.6 million in financing for the Elitch Gardens Theme and Water Park in the heart of downtown Denver.

JLL Capital Markets worked on behalf of the borrower to place the five-year, floating-rate loan with Pacific Western Bank. Loan proceeds will be used to retire existing debt and fund ongoing pre-development work for the future River Mile project.

The ownership group acquired Elitch Gardens in 2015 and, over its ownership period, has completed numerous needed improvements to the park, including three new major rise attractions. The park will continue to operate as one of Denver’s premiere major attractions for the foreseeable future. The ownership group is also nearing completion of the future home of the 90,000-square-foot Meow Wo