Bank loan

Concord Summit Capital completes $50 million loan for exclusive mountain resort in Utah

Park City—Concord Summit Capital, LLC (“Concord Summit”) has arranged a $50 million loan to develop Wohali, an 1,800-acre planned resort community in the Wasatch Mountains, located near Park City, Utah. The loan, provided by Puyallup, Washington-based Builders Capital, will be used to build infrastructure, lot development and vertical construction of the first 100 vacation homes. In total, the developer plans 434 residential sites for a variety of product types, an 18-hole golf course, and access to 3,400 acres of backcountry.

Concord Summit Principal Tyler Beauregard (Denver office), Principal Analyst Mason Bender (Denver office) and Principal Analyst Daniel Rojo (Miami office) secured the loan on behalf of the borrower/developer, Wohali Partners.

“We are very pleased to work with this development group to help them realize their vision for this immaculate property,” says Beauregard. “Builders Capital came to the table with a financial package that we were able to lock in before the next round of interest rate hikes took hold.” The lender specializes in financing communities from the raw land stage through to completion.

Wohali will offer a range of amenities including an 18-hole Audubon-sanctioned golf course, 11-hole short course, golf practice cabin, spa and wellness center, fitness center, swimming pools, a tennis center and farm-to-table restaurants. options. Thanks to an adventure centre, residents will have access to many activities such as Nordic and cross-country skiing, climbing and abseiling, hiking and snowshoeing, trapping and skeet shooting, archery, ax throwing, kayaking and fishing.

“Since the pandemic, Utah has seen a large immigration of Californians and Midwesterners who want to buy or build a second home and experience all the outdoors has to offer,” says Beauregard.

Wohali is located approximately 25 minutes from downtown Park City and less than an hour from Salt Lake City.

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About Concord Summit Capital

Summit of Concord Capital is a leading intermediary between sponsors and capital providers for commercial real estate debt and equity financing. CSC provides three independent services on its investment platform. Concord Summit’s capital advisory team provides fee-based debt and equity transaction advisory services for commercial real estate capitalizations ranging from $3 million to $1 billion. The advisory team has arranged over $23 billion in debt, structured finance and equity. Concord Summit Capital’s investment team acquires distressed assets and non-performing loans from all banks and financial institutions nationwide. The Concord Summit Capital Fund team invests in commercial real estate debt and equity structures in deals ranging from $2 million to $35 million. For more details, please see www.concordsummit.com