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2/08/23
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Invent Development Partners has obtained $50 mil of construction financing for Phase I of the Lionsback Resort in Moab, Utah, a 175-acre development located adjacent to internationally renowned Canyonlands and Arches National Park in eastern Utah.
Proceeds from this fixed-rate, non-recourse construction loan will be used to complete the Phase I onsite infrastructure improvements and vertical construction of the initial 34 single family homes, as well as the horizontal infrastructure of Phase II. To be built over five phases, at build-out, the $350 mil development will include 188 single-family residences “Casitas” and a luxury, destination resort hotel. The project will be the first luxury residential development in the city of Moab.
Sonnenblick-Eichner Company has arranged $50 million of construction financing for Phase I of the Lionsback Resort in Moab, Utah, a 175-acre development located adjacent to internationally renowned Canyonlands and Arches National Park in eastern Utah.
The financing was arranged by Sonnenblick-Eichner Company. The non-recourse loan came in at 85% of cost, according to Elliot Eichner, principal of Sonnenblick-Eichner.
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