{"id":1004204158,"date":"2018-01-18T01:30:37","date_gmt":"2018-01-18T09:30:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004204158"},"modified":"2022-12-08T12:26:44","modified_gmt":"2022-12-08T20:26:44","slug":"luxury-ski-resort-in-utah-scores-60m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/luxury-ski-resort-in-utah-scores-60m-refi\/","title":{"rendered":"Luxury Ski Resort in Utah Scores $60M Refi"},"content":{"rendered":"<p><em>By Scott Baltic<\/em><\/p>\n<div id=\"attachment_1004204159\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004204159\" data-attachment-id=\"1004204159\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/luxury-ski-resort-in-utah-scores-60m-refi\/st-regis-deer-valley-in-park-city-utah\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg\" data-orig-size=\"1323,1001\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"St. Regis Deer Valley in Park CIty, Utah\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;St. Regis Deer Valley in Park CIty, Utah&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg?w=1024\" class=\"wp-image-1004204159 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg\" alt=\"St. Regis Deer Valley in Park CIty, Utah\" width=\"300\" height=\"227\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg 1323w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg?resize=300,227 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg?resize=768,581 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Deer-Valley-in-Park-CIty-Utah-e1516266407193.jpg?resize=1024,775 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004204159\" class=\"wp-caption-text\">St. Regis Deer Valley in Park City, Utah<\/p><\/div>\n<p>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.<\/p>\n<p>The non-recourse financing was funded by a domestic life insurance company in what S-E described as \u201c<em>a highly structured transaction<\/em>.\u201d Proceeds were used to refinance existing debt with a new long-term, fixed-rate loan and to provide for the development of the resort\u2019s 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.<\/p>\n<p>The property\u2019s owner reportedly is a joint venture of a privately held East Coast real estate company and a Hong Kong investor.<\/p>\n<p>\u201c<em>Deer Valley is recognized as one of the finest destination ski resorts in the world. With its year-round amenities and the successful history of condominium and private resident sales, the transaction was ultimately structured with a life insurance company who fully appreciated the intrinsic value of the asset in underwriting the collateral for the loan<\/em>,\u201d S-E Principal David Sonnenblick said in a prepared statement.<\/p>\n<p>The ski-in, ski-out facility offers 67 hotel condominium suites divisible into 177 hotel keys and 25 private whole-ownership residences. Amenities at St. Regis Deer Valley include:<\/p>\n<ul>\n<li>spa and fitness facilities<\/li>\n<li>J&amp;G Grill<\/li>\n<li>a signature restaurant<\/li>\n<li>a private club<\/li>\n<\/ul>\n<h2>A long and busy history<\/h2>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/ksl-hcc-purchase-utah-ski-resort\/\">Deer Valley was purchased<\/a>\u00a0last August, before it was a St. Regis, by affiliates of KSL Capital Partners and Henry Crown &amp; Co.<\/p>\n<p>Those two entities had just weeks prior finished combining Intrawest Resorts Holdings Inc., Mammoth Resorts and Squaw Valley Ski Holdings into one company, which owns 12 four-season mountain resorts with 6 millions skier visits and 20,000 skiable acres, along with <em>\u201csignificant land available\u201d<\/em> for future development.<\/p>\n<p>\u201c<em>This is the third financing that we have arranged for the ownership, including a $212.5 million construction loan and a subsequent permanent loan<\/em>,\u201d added S-E Principal Elliot Eichner. The $212.5 million loan was arranged way back in July 2007.<\/p>\n<p><em>Image courtesy of\u00a0Sonnenblick-Eichner Co.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan will also cover the facility&#8217;s expansion, which is expected to begin later this year or in early 2019.<\/p>\n","protected":false},"author":882,"featured_media":1004204159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21751,21742,1606,15],"tags":[37325,33573,33474,38892],"class_list":["post-1004204158","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-hotel","category-latest","category-salt-lake-city","category-west","tag-deer-valley-submarket","tag-ksl-capital-partners","tag-sonnenblick-eichner-company","tag-st-regis-hotels-resorts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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