X Caliber closes $285 million financing for $495 million resort development in Missouri

Osage Beach, MO X-Caliber Capital Holdings LLC, (X-Caliber) closed a $285 million Rural PACE-X financing for the ground-up construction and redevelopment of a national resort in Missouri. 

The Oasis at Lakeport, a national family resort and entertainment district, has a total project cost of $495 million. It features a Marriott hotel with 402 rooms, a conference center, indoor waterpark, amusement park, and various amenities, aiming to become a premier Midwest tourist destination. 

The combined $285 million Rural PACE-X financing consists of $220 million of conventional senior secured debt through an affiliate of X-Caliber Rural Capital, XRL-ALC, LLC, and $65 million of Commercial Property Assessed Clean Energy (C-PACE) financing through CastleGreen Finance. This is X-Caliber’s largest Rural PACE-X transaction closed to date since the product launched in late 2024. In addition, the C-PACE financing is the largest to date for the state of Missouri and for CastleGreen Finance. 

Rural PACE-X is a propriety and innovative financing solution that provides high-leverage financing for ground-up construction projects in micro-rural areas. 

“The Lakeport at Oasis project marks a transformational moment for Missouri and its communities,” said X-Caliber president and CEO, Chris Callahan. “Rural PACE-X proved to be the ideal product to help bring it to life. The innovative financing structure helped make it possible to deliver a premier family resort; one that will drive economic growth, create jobs, and attract new tourism to the region and state for decades to come.” 

The loan was originated and structured by the X-Caliber Advisors team comprised of Gregg Delany, Ken Lorman, and Gabe Mashaal on behalf of Tegethoff Development Company. 

“This transformational project brings so many benefits to the local economy including well paying jobs, tax revenues, and vibrant cultural entertainment,” said Jeff Tegethoff, founder and CEO of Tegethoff Development. “Regarding the financing, I want to thank X-Caliber Advisors who initiated the transaction, created an innovative structure quite superior to our initial plan, and worked with us every step of the way through complications associated with a development this large. CastleGreen Finance, in addition to the other lending verticals at X-Caliber, seamlessly executed an attractive, non-recourse, fixed-rate solution, which met all of our capital stack needs." 

The buildings’ energy efficiency design is estimated to save around $11MM in costs over the lifetime of the improvements. 

“This financing provides a highly effective solution that exemplifies the power of hybrid funding, seamlessly executing both efficient short- and long-term capital strategies,” said Sal Tarsia, managing partner, CastleGreen Finance. “By integrating state-of-the-art energy efficiency upgrades, it delivers sustainable, future-ready performance for this exciting hotel resort project. We are proud to have combined our multiple lending pillars to offer a full-service solution and be a part of bringing the Oasis at Lakeport to life.” 

The Oasis at Lakeport is expected to create over 1500 construction jobs and over 500 full-time jobs. The resort is also expected to draw 600,000 visitors a year. 

“Rural PACE-X leverages X-Caliber’s innovative offerings and strong partnerships to bring tailored solutions to the specific needs of rural areas,” said Jordan Blanchard, co-founder, X Caliber Rural Capital. “We are focused on providing capital solutions that foster meaningful economic growth and lasting positive impact in rural communities.” 

This collaborative effort underscores the potential for innovative developments to transform local economies and enhance community experiences. 

The amusement park and attractions are slated to open in the spring of 2026 while the Marriott hotel and indoor waterpark are projected to open in late 2027.