VICI Properties funds new Canyon Ranch facility in Texas

VICI Properties is funding the development of an Austin, Texas, location for spa resort brand Canyon Ranch by tapping a loan facility worth up to $200 million. In addition, the REIT has the right to acquire two other Canyon Ranch properties if the spa company opts to sell them. “Canyon Ranch is a global leader in the strength of relationship with their guests, and that’s because they create a client experience that truly encompasses the totality of the client’s life and aspirations,” said VICI CEO Edward Pitoniak.