Marcus & Millichap Secures $50.9M Construction Loan For The Helen In Park City
3267 Deer Hollow Drive
$50,901,488
Building Size
—
Asset Type
Development Site
Closing
Feb 14, 2024
AI
The Helen, phase two of the Founders Place luxury condominium development in Deer Crest Neighborhood at Deer Valley Resort, located at 3267 Deer Hollow Rd, Park City, UT, secured a construction loan amounting to $50,901,488. The loan was facilitated by IPA Capital Markets.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $50,901,488
- Landlord: East West Partners
- Brokers: James Matheny, Jordan Ray, Rachael Krawiecki & Steven Buchwald - Institutional Property Advisors
The loan was specifically secured for The Helen, part of the luxury condominium development in the prestigious Deer Crest Neighborhood. IPA Capital Markets, a division of Marcus & Millichap, played a crucial role in finalizing the $50,901,488 construction financing for this upscale project.
Players
Sandy Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93