Jan
18
Luxury Ski Resort in Utah Scores $60M Refi
ByThe loan will also cover the facility’s expansion, which is expected to begin later this year or in early 2019.
Sonnenblick-Eichner Co. has arranged $60 million in financing for St. Regis Deer Valley, a AAA Five Diamond year-round destination resort in the Deer Valley ski area in Park City, Utah.
The non-recourse financing was funded by a domestic life insurance company in what S-E described as “a highly structured transaction.” Proceeds were used to refinance existing debt with a new long-term, fixed-rate loan and to provide for the development of the resort’s next phase, which will include additional condo and hotel units, a destination restaurant, and other resort amenities. Construction on that next phase is expected to begin later this year or in early 2019…
