NLand Surf Park sold to Kelly Slater Wave Co

Originally Published January 4, 2019 by Jan Bucholz on ATXRealEstateNews.com

Doug Coors, scion of the Colorado brewing company of the same name, sold his personal entrepreneurial dream — NLand Surf Park — to a California-based entity, according to deed records filed Dec. 28 at the Travis County Clerk’s office.

Though Coors lives and works in the Denver area, he said he chose Austin for the high-tech wave and water park because of its “innovative” culture. Probably its climate, too.

At a press conference in 2015, Coors unveiled his plans, conveying a fascination with surfing and rapidly advancing wave technology.

NLand Surf Park opened in October 2016 a few miles east of Austin-Bergstom International Airport.  Construction had been dogged by technical difficulties and a dispute with county officials, who wanted to regulate the 14-acre lagoon in a fashion similar to conventional pools. The dispute lagged on after the park opened. Finally in October 2017 the Travis County Commissioners voted to drop the matter.

Coors never revealed how much of an investment was involved, but it surely was significant — purchasing more than 160 acres of land, deploying the technology, building auxiliary facilities including a brew pub and restaurant that was completed in 2017 at a cost of more than $1 million. The Travis Central Appraisal District valued the land and buildings at $4,806,149 for tax year 2018.

Here are the details of the sale, according to the warranty deed.

Austin Park LLC with an address in Golden, Colorado, conveyed two tracts at 4836 E. State Highway 71 — 160.071 acres and another of just 20,985 square feet — to Tumbleweed Opco, a Delaware-registered limited liability corporation, in care of Kelly Slater Wave Co. with an address in Solana Beach, California.

A paragraph in the deed is emphasized in all capital letters: “THE PURCHASE PRICE REFLECTS THE AGREEMENT OF THE PARTIES THAT GRANTEE IS PURCHASING THE PROPERTY ‘AS IS, WHERE-IS AND WITH ALL FAULTS’ AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, OF ANY KIND WHATSOEVER (EXCEPT AS EXPRESSLY SET FORTH IN THE AGREEMENT OF SALE AND PURCHASE AND JOINT ESCROW INSTRUCTIONS, DATES AS OF THE DATE HEREOF, BY AND BETWEEN GRANTOR AND GRANTEE, AND THE WARRANTY OF TITLE STATED IN THIS SPECIAL WARRANTY DEED.)”

Coors signed the document in Jefferson County, Colorado, Dec. 21. He’s an executive with CoorsTek, a high tech ceramics company.

Since originally posting this story Jan. 3, I’ve learned this is a fairly common paragraph to include in such transfers, so probably not too much should be read into it. Also, I’ve learned from some real estate readers that NLand Surf Park has a loyal following and remained a premiere recreational destination until it closed for the season Nov. 11. This may all be a best outcome. Time will tell.

Online searches netted no detailed information about the buyers, although Delaware corporation records show that Tumbleweed Opco LLC was formed Dec. 11.