KALAMAZOO, MI (May 6, 2025) |
Element 22 Commercial Group and multiple credit unions based out of Northern Michigan have collaborated to fund the purchase and renovation of the Pleasant Valley Resort. Located in Arcadia, Michigan, the 1.5-acre resort includes a 6-unit motel, 4 cabins, a 3-bedroom house and a new barndominium. The borrower will be adding a pickleball court and putting/chipping green, in addition to an assortment of other new amenities that will surely appeal to future guests. The loan participants include Filer Credit Union as the lead Lender, along with TBA Credit Union, Traverse Catholic Federal Credit Union, and Forest Area Federal Credit Union. This $1.24 Million loan will be serviced by Element 22 Commercial Group, a Credit Union Service Organization (CUSO) that serves as a commercial lending arm for credit unions and banks.
“We’re proud to support the continued growth and vitality of the local business community through this commercial loan partnership. This deal represents our ongoing commitment to investing in local businesses that drive economic development and create lasting value for the area. Individuals like Jamie and Jason are established business owners that know what it takes to thrive in communities like ours. We are fortunate they are investing in our community, and we are happy to be a part of it!” comments Kyle Gurzynski, CEO of Filer Credit Union.
“We are so happy to be a part of this shared transaction. Often smaller credit unions or community banks do not have access to larger transactions which have an impact on their communities. The ability for us to facilitate these interactions and gather so many different financial institutions together to make this happen is what Element 22 Commercial Group is all about,” Kenneth Leonard, Co-founder & CEO of Element 22 Commercial Group expresses his excitement about the project, “We are always honored and privileged to be a part of this. Collaboration on projects like this are how we grow small businesses, finding ways to work together, to do better, and to make an impact on all of our local communities.”
“There are so many moving pieces with projects of this size. At Element 22 Commercial Group, we pride ourselves in connecting those dots for the members and the financial institutions, to make the process as seamless as possible,” says Michael Shane Lester, a Senior Commercial Credit Analyst at Element 22 Commercial Group, and the primary underwriter for this loan. “I am grateful to have played a part in facilitating this project and look forward to many more in the future.”
“We are super excited to bring upscale modernization and wellness to Pleasant Valley Resort,” enthusiastically remarks Jason Snider of Pleasant Valley Resort, “All of the rooms, houses and cabins are undergoing a complete renovation with upscale flare! A wellness amenity package including barrel saunas, cold plunges and hot tubs will offer guests a unique experience. Perfect for corporate retreats, small group events, family reunions or get-togethers. We will feature the availability to cater to your group of up to 50 guests or just a weekend getaway for 2. Whether you’re looking to visit Arcadia for golf, the beaches, biking trails or for any other reason we’re excited to make ‘the new’ Pleasant Valley Resort your landing place.”
Element 22 Commercial Group underwrote, coordinated due diligence, created closing documents, and aggregated participants for this project as part of one of their ‘total loan package’ offerings. Pleasant Valley Resort is located on Michigan’s well-traveled and scenic M22 and will reopen this May 2025 for the season.