LFB Ventures was engaged by a builder needing financing to complete two homes within the upscale master planned community known as Tuhaye in Hideout, UT. The is a private, gated community with custom homes and cabins located just 15 minutes outside Park City. The community is also home to an 18-hole championship golf course, a full-service restaurant, spa, and fitness center.
At time of financing, the two lots were owned and controlled. LFB provided the development and construction financing needed to complete the project. The two homes will be 2,603 and 3,000 square feet in size, with a mountain modern finish and architecture style. The homes will be built as paired homes with a total combined exit value of $4,700,000.
In addition to providing construction financing that eliminated the need for further equity investment by borrower, LFB was able to assist in the early payoff of the underlying bond which further entices home buyers who would otherwise have to service the additional tax assessment via higher property tax payments.
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