Regency Capital Partners

Sugar House Portfolio


Sugar House Portfolio

Summary

Regency Capital Partners (RCP) arranged fixed rate, life company financing for the acquisition of Sugar House Portfolio, which included three adjacent properties: Westminster on the Draw, a 168-room student housing development, a 35,000 SF office building, and a 325-stall parking garage. The student housing was master-leased to Westminster College, a small liberal arts university with less than 3000 students. Despite specialized use and the small student body, RCP engineered a competitive bidding process among several top-tier life companies and banks, ultimately securing the Borrower a 60% LTC, 20-year non-recourse financing at below 4%.


Transaction Details

LOAN AMOUNT $21,000,000
FINANCING TYPE Permanent
LENDER TYPE Life Company
PROPERTY TYPE Mixed Use
PROPERTY ADDRESS
Map
2110 1300 E
Salt Lake City, UT
PROPERTY DESCRIPTION This portfolio includes two buildings and a parking garage in downtown Salt Lake City.