In Brief: Newmark Group Inc. arranged a $482.5 million loan for Stockman Development LLC to advance The Stockman, Auberge Collection, in Steamboat Springs, Colorado.
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Rendering of The Stockman, Auberge Collection – Image Credit Newmark
Newmark Group Inc. arranged the $482.5 million loan on behalf of Stockman Development LLC, led by Marquee Development, to advance The Stockman, Auberge Collection, which recently broke ground in Steamboat Springs.
GoldenTree Asset Management provided the financing. Newmark Co-President of Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani, Managing Director Tyler Dumon and Director Holden Witkoff arranged the loan on behalf of the sponsor.
The Stockman is planned to include 95 branded residences and a 59-key hotel operated under the Auberge Resorts Collection. OZ Architecture is leading the building design, and Nunzio Marc DeSantis Architects is handling interiors. Berkshire Hathaway is leading residential sales efforts.
Located at the base of Steamboat Ski Resort, the development is planned to provide direct ski-in/ski-out access to Steamboat Mountain and access to skiing, hiking, mountain biking and fishing.
Planned amenities include spa and fitness facilities, a pool, food and beverage offerings, an owners’ lounge, ski locker storage and private terraces. The project’s design will draw on Steamboat Springs’ Western heritage and include contemporary amenities.
The development represents the next phase of Alterra’s investment in the mountain following its $250 million “Full Steam Ahead” reinvestment program at Steamboat Resort.