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7/22/25
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675 Main St, Park City, Utah |
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CALMWATER CAPITAL -- Calmwater Capital has provided Stanton Road Capital with $22.8 mil in short-term bridge debt to refinance Kimball on Main, a 25.4k sf retail complex in Park City’s historic Old Town in Utah. The property is located at 675 Main St on a prominent .43-acre corner lot at Heber Ave, at the epicenter of shopping, dining and attractions on Park City’s half-mile high street. Originally built in 1990, the property was renovated in 2018, which included the construction of a new three-story building facing Main St. The property features seven street-level store fronts and a second-floor event space, which caters to corporate brand activations and private events. Kimball on Main is currently 83% leased to a combination of nationally and locally recognized retailers including Arhaus, Free People, Sunglass Hut, Romy Park City, We Norwegians and The Collective. Main Street is flanked by Park City Mountain Resort and Deer Valley, two of Utah’s premier ski resorts. The more than 200 shops, restaurants, pubs and entertainment venues benefit from and affluent local population and the more than 4 million tourists that visit Park City annually. Since acquiring the asset in 2022, Stanton Road Capital, a national private investment firm with over six million square feet of assets under management led by Tim Ronan, has increased NOI significantly through professional management, lease-up and tenant renewals. Calmwater, led by a team that included Larry Grantham and DaJuan Bennett, was able to structure a short-term debt solution for the asset which allowed SRC to capitalize on an opportunity to solidify Arhaus as the property’s anchor tenant for the next 13 years.
GANTRY – Murphy Osborne and Alex Poulos with Gantry secured a $7 mil permanent loan to refinance a Silicon Valley R&D industrial facility located at 1635 McCarthy Blvd in Milpitas, a key submarket for semi-conductor and technology manufacturing operations. The 48.5k sf facility sits on 3.4 acres and is 100%-leased to a long-standing manufacturing tenant with a significant infrastructure investment at the site. The five-year, fixed rate loan was secured through an insurance company lender and features 30-year amortization. Gantry will service the loan.
AVATAR FINANCIAL GROUP -- Avatar Financial Group LLC has funded a $3.16-mil bridge loan secured by a Texaco-branded gas station and convenience store in Dallas, TX. The financing was structured with an 11.5% initial interest rate, 65% loan-to-value, and a two-year term. Located at 3924 West Red Bird Lane, the property features a large fueling station, a retail building occupied by three tenants offering a mix of retail and services, and an adjacent vacant lot. The borrower, a seasoned operator with an existing portfolio of gas stations and other real estate investments in the Dallas area, sought to extract equity from the asset in order to purchase another service station. With the new acquisition underway, the borrower plans to refinance Avatar’s loan once the new site is stabilized and producing income.
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