X-Caliber Rural Capital Provides $146 Million Construction Loan For Fervo Energy Cape Station In Utah

The asset involved in this transaction is an industrial property located in Beaver County, Utah, covering a square footage of 222. A construction loan amounting to $146,000,000 was secured for this project.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $146,000,000
• Lender: X-Caliber Rural Capital
• Landlord: Tim Latimer
• Loan Type: Construction
• Location: Beaver County, Utah
• Note from Lender: An X-Caliber Rural Capital Affiliate, XRL-ALC, has committed a total of $146 million to Fervo Energy Cape Station Phase I. Construction is currently underway with power generation expected by 2026, targeting an additional 400MW by 2028.

The key individuals facilitating this transaction include Nash Stapleton, Chris Callahan, and Jordan Blanchard, who are part of the team working on this funding process in collaboration with Tim Latimer representing the landlord aspect of the deal.