Orion Secures $45 Million Debt Facility From Builders Capital to Complete "The Mason" in Park City, UT

59-Unit Resort Development 90 Percent Pre-Sold

PARK CITY, Utah, Aug. 15, 2024 /PRNewswire/ -- Orion Real Estate Investment & Development, a resort, mixed-use, urban and master-planned communities developer, announced today it has closed a $45 million debt financing facility from Builders Capital, the nation's largest private construction lender. The debt facility will fund the completion of 59 new condos at The Mason, a luxury condominium development in Park City, Utah. Located across from the highly anticipated Deer Valley® East Village and adjacent to Jordanelle Reservoir, The Mason is 90 percent pre-sold and will be completed in winter 2025.

The Mason is designed by Salt Lake City-based MJSA with New West Building Company as general contractor, and exclusively represented by Berkshire Hathaway HomeServices Utah Properties. It consists of the former 85-unit Lodge at Stillwater, which is undergoing a major renovation, and two additional new buildings with 59 new condos. Construction on the new buildings commenced last month. These move-in ready, turnkey, fully furnished one-, two- and three-bedroom condos will feature "Mountain Chic" interiors. Residents enjoy beautiful views of the Jordanelle Reservoir and Wasatch Mountains as well as high-end amenities, including an owners' lounge, game room, remote workspace, fitness center, outdoor pool, hot tubs, saunas, grills, firepit seating, bike storage and ski lockers.

"We're thrilled to partner with Builders Capital to complete The Mason," said Robert Huggins, Managing Partner of Orion Real Estate Investment & Development. "Our partnership will deliver beautifully designed and furnished residences minutes from new mountain village, Deer Valley East Village, and the expanding Deer Valley Resort, which will soon be one of the biggest ski areas in the country. Residents will be at the center of all the action with easy access to year-round outdoor activities, walkable shops, restaurants and entertainment. The desirability of The Mason is reflected in it being 90 percent pre-sold with just a limited selection of one- and two-bedroom condos remaining," he added.

Located at 1364 W. Still Water Drive in Mayflower Mountain, The Mason is 35 minutes from Salt Lake City International Airport and 3 minutes from Deer Valley Resort for year-round activities, including skiing, hiking, biking, water sports, golf, and more. The ski resort will expand to over 5,700 acres of ski terrain, add 16 new lifts and a 10-passenger gondola. Deer Valley® East Village, a new, upscale, mountain village featuring hotels including the Grand Hyatt Deer Valley, a ski school, rental shop, retail, dining, entertainment, residences and 1,200 new day skier parking spaces, will be a two-minute drive from The Mason, just across the highway. A new underpass at U.S. Route 40 offers a new entry point to Deer Valley easing traffic congestion.

About Orion Real Estate Investment & Development
Orion Real Estate Investment & Development, headquartered in Jackson-Hole, WY, has decades of collective experience in land acquisition, entitlements, ground-up development and redevelopment across a spectrum of product types including resort, urban, mixed-use, and master planned communities. For more information, visit https://www.orion-companies.com/.

SOURCE Orion Real Estate Investment & Development

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