Extell Development Secures $600M Construction Loan From JVP Management For Deer Valley Project

The asset involved in this transaction is a development site located at 1693 Glencoe Mountain Way in Park City, Utah. Extell Development has secured a construction loan amounting to $600,000,000 from JVP Management for the Four Seasons Resort and Residences Deer Valley project, which comprises 123 residences and extensive wellness and event amenities. The development is set to deliver in 2028 and is situated in Deer Valley East Village, an area undergoing a significant ski expansion scheduled for the 2025/2026 season.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $600,000,000
• Landlord: Extell Development
• Lender: JVP Management
• Loan Type: Construction

This transaction highlights the involvement of Extell Development as the landlord and JVP Management as the lender in the construction loan agreement. The project is designed to enhance the luxury accommodation offerings in the region, focusing on attracting both residents and visitors to the expanding ski locale.