Tahoe Beach Club
Lake Tahoe, NV
$107,000,000
Loan Amount
80%
Loan-to-Net Sellout
$1,400
Price Per SF
Condo Inventory & Completion
Lotus arranged $107 million of construction completion and inventory financing for a unique, luxury condominium development on the shores of Lake Tahoe.
Challenges:
Our Client planned to construct a three-phase, 143-unit, luxury condominium development and 30,000 square foot Clubhouse on Lake Tahoe’s coveted South Shore. Very few lenders focus on the Tahoe Basin as a target region, and many declined to look at the project based on location alone.
Solutions:
Lotus was able to secure the financing by the development’s first phase, including 46-near complete condominiums (95% pre-sold at the time of closing), and the land under the project’s third phase. The units at the project were able to achieve some of the highest prices in the Tahoe Basin (north of $1,400 PSF), giving Lotus enough support to facilitate a high Loan-to-Net Sellout value of 80%. Lotus was also able to restructure the borrowing entity to create a profit-sharing participation structure for one party, which cleared the path for a more efficient financing.