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."