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2/28/23
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Iluminus Group is selling a 17.5k sf, five-acre luxury ski-in/ski-out property in Park City, UT. The estate is in the exclusive Colony at White Pine Canyon gated community and is tucked into the mountains at the base of Monitor Bowl. Iluminous acquired the property in May 2022 for $39.6 mil and is now selling the asset with a listing price of $50 mil.
Since its purchase, Iluminous has secured an $8.75 mil bridge loan to complete all interior finishes on the property. The financing was provided by Seattle-based Avatar Financial Group, a portfolio lender that controls more than $200 mil in funds to make hard money bridge loans.
The current work was designed by Carney Logan Burke Architects and is being built by Magleby Construction. The outer structure and roof were already completed when Avatar was brought into the project. The new, 18-month loan allows Iluminus to complete all interior finishes of the home and adhere to its timeline. Avatar held all net loan proceeds in a construction draw account that was disbursed as the work progressed.
The compound’s eye-popping features include rich copper cladding and a wellness-intelligence system that provides circadian rhythm lighting that responds to the human body’s natural cycles and promotes productivity and balance. The home features a DELOS advanced water and air filtration system that provides supplemental oxygen feed for high-altitude environments. Other amenities include a sauna, steam room, and massage room with a backlit Himalayan salt wall. A designated “wellness wing” has a stainless-steel hot tub, indoor-outdoor lap pool, sport court, gym, sports simulator, and single-lane bowling alley. A long list of additional comforts, custom-builds, and dialed-in details make this unique home a distinctive global property.
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