Concord Summit Capital Closes $50M loan for exclusive Utah mountain resort
Park City— Concord Summit Capital, LLC (“Concord Summit”) arranged a $50 million loan to develop Wohali, a 1,800-acre master-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 out infrastructure, lot development, and vertical construction for the first 100 resort residences. In total, the developer is planning 434 homesites for a variety of product types, an 18-hole golf course, and access to 3,400 acres of backcountry.
Concord Summit Director Tyler Beauregard (Denver office), Senior Analyst Mason Bender (Denver office), and Senior Analyst Daniel Rojo (Miami office) sourced the loan on behalf of the borrower/developer, Wohali Partners.
“We are very pleased to work with this development group to help them achieve their vision for this pristine property,” Beauregard says. “Builders Capital came to the table with a financing package that we were able to lock in before the next round of interest rate hikes take hold.” The lender specializes in financing communities from the raw land stage to completion.
Wohali will offer an array of amenities including an 18-hole Audubon-sanctioned signature golf course, an 11-hole short course, golf practice cabin, spa and wellness center, fitness center, pools, tennis center, and farm-to-table dining options. Through an adventure center, residents will have access to numerous activities such as backcountry and cross-country skiing, rock climbing and rappelling, hiking and snowshoeing, trap and skeet shooting, archery, axe throwing, kayaking, and fishing.
“Since the pandemic, Utah has experienced significant in-migration from Californians and Midwesterners who wish to buy or build a second home and experience all that the outdoors has to offer,” Beauregard says.
Wohali is located about 25 minutes from downtown Park City and under an hour from Salt Lake City.
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