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Bonfire Collective & Ray Mathoda Of Anchor Loans Secure $555M Construction Loan For Velvære In Park City
FINANCED
$555,000,000
Condo
Financed 12/04/2025
FINANCED
Bonfire Collective & Ray Mathoda Of Anchor Loans Secure $555M Construction Loan For Velvære In Park City
10104 Himmel Court
See Similar DealsCondo
Financed 12/04/2025
Summary
UTAH
Asset Type:Condo
Transaction Type:Loan
10104 Himmel Court is a condo located in Park City, UT. The property is part of a luxury community development called Velvære, which features 115 residences and has a total projected value of $1 billion. This loan transaction involves a substantial amount of construction financing that facilitates the advancement of this project.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $555,000,000
- Loan Type: Construction
- Landlord: Bonfire Collective & Ray Mathoda - Anchor Loans
- Broker: Blake Bitterlin - LFB Ventures
Bonfire Collective, in partnership with VP Companies through the joint venture Pioche Partners, secured $555 million in construction financing to move forward with the luxury community development at Deer Valley. The financing included $197 million sourced from Anchor Loans and additional equity from Toba Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$555,000,000.00
Monthly NOI$3,700,000.00
Monthly Debt Service$3,507,977.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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