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Jon Day Of Reef Capital Partners Secures $182.2M Loan For Resort Development In Park City

Property Image
FINANCED
$182,200,000

Utah

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Note / Loan
Financed 01/06/2026
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Property Image
FINANCED

Jon Day Of Reef Capital Partners Secures $182.2M Loan For Resort Development In Park City

W Horn Ct

See Similar Deals
Note / Loan
Financed 01/06/2026

Summary

UTAH
Asset Type:Note / Loan
Transaction Type:Loan

The property asset involved in this transaction is a resort/hospitality located at West Horn Court in Park City, UT, associated with a loan amount of $182,200,000 for ground-up construction. The lenders include X-Caliber, CastleGreen Finance, and XRL-ALC, aiding in the financial backing of the project.

Summary of transaction details:

  • Property Type: Resort/Hospitality
  • Transaction Amount: $182,200,000
  • Lender: X-Caliber, CastleGreen Finance & XRL-ALC
  • Landlord: Jon Day - Reef Capital Partners
  • Loan Type: Ground-Up Construction
  • Senior-Secured Debt: $107,200,000 via XRL-ALC, LLC
  • C-PACE Financing: $75,000,000 through CastleGreen Finance
  • Significance: This transaction was executed using X-Caliber’s proprietary Rural PACE-X lending product.

Key individuals involved in the deal include Chris Callahan, Jordan Blanchard, Ken Lorman, Gabe Mashaal, Gregg Delany, and Sal Tarsia, representing various aspects of the transaction. Additionally, Jon Day is noted as the CFO of Reef Capital Partners, highlighting the leadership role in the execution of this transaction.

Details

FINANCED
IMAGE: Chris Callahan, Jordan Blanchard, Ken Lorman, Gabe Mashaal, Gregg Delany, Sal Tarsia & Jon Day DATE: 1/6/2026 ADDRESS: West Horn Court MARKET: Park City, UT ASSET TYPE: Resort/Hospitality LENDER: X-Caliber (@XCaliberCap), CastleGreen Finance & XRL-ALC LANDLORD: Jon Day - Reef Capital Partners LOAN AMOUNT: $182,200,000 LOAN TYPE: Ground-Up Construction NOTE: • Senior-Secured Debt: $107,200,000 via XRL-ALC, LLC • C-PACE Financing: $75,000,000 through CastleGreen Finance • Significance: This is a transaction executed using X-Caliber’s proprietary Rural PACE-X lending product. The company has closed more than $500MM since launching the product in 2024 and have another $500MM in their pipeline going into 2026. • Key individuals involved in the deal include Chris Callahan, Jordan Blanchard, Ken Lorman, Gabe Mashaal, Gregg Delany and Sal Tarsia, representing various aspects of the transaction along with Jon Day, CFO of Reef Capital Partners.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$182,200,000.00

Monthly NOI$1,214,666.67
Monthly Debt Service$1,151,627.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00