North Avenue Capital Invests in Waco Entertainment Scene With a $15 Million USDA-Backed Loan.
North Avenue Capital (NAC), a leading provider of USDA-backed commercial loans, is making a major investment in community engagement across Texas with a $15,000,000 USDA Business & Industry Loan to Making Waves, owners of one of the most acclaimed inland surfing and watersports destinations in the world.
With NAC’s support, the 79.9-acre theme park will undergo a seamless transition to a new and deeply experienced ownership team. Loan proceeds will be used to purchase the real estate assets, as well as furniture, fixtures, other equipment, and to fund renovations to enhance the guest experience.
Located halfway between Dallas and Austin, Waco-based BSR Surf Resort has been recognized as one of the top ten surf parks in the world. The park attracts a wide audience with award-winning and family-friendly attractions including a professional-grade wakeboarding cable park, mile-long wake surfing barefoot ski lake, state-of-the-art wave pool, a slide complex, and one of the longest lazy rivers in the country.
The facility is not just a daytime destination. The internationally recognized resort also provides guests with accommodations including a clubhouse, bar, and restaurant, plus an 11-room hotel, six lakeside cabins, and several lake-front houses for VIP rental.
As a professional competition venue for surfing and wakeboarding events, the park provides recurring economic benefit to the communities. On average, the park sees more than 100,000 guests each season, which runs February through September. Recently, the United States Olympic Surfing team utilized the facility for training while awaiting confirmation of the next Olympic Games schedule.
The fresh funding is yet another vote of confidence for an attraction already identified by the Orange County Register as having "Southern California surfers packingtheir bags for Waco, Texas."
About North Avenue Capital
North Avenue Capital is a specialized commercial lender exclusively originating, underwriting, and funding USDA Rural Development loans. The largest B&I lender in the country, NAC uses its expertise, capital, and relationships to build businesses, grow economies, and create jobs in rural America. Learn more about NAC and its Borrowers at www.northavenue.com.
About Making Waves
Making waves is a Texas-based BSR Surf Resort, recognized as one of the top 10 surf parks in the world. The park offers award-winning and family-friendly attractions like a professional-grade wakeboarding cable park, a mile-long wake surfing barefoot ski lake, a state-of-the-art wave pool, and one of the longest lazy rivers in the country.