Mar 02, 2023

Avatar loan supports Park City ski mansion

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Local shop Avatar Financial Group announced the recent provision of an over $8.7 million bridge loan for renovations of a trophy ski home in Park City, Utah. The so-called “Monitor's Rest at the Colony” is on the market, listed by Paul Benson of Engel & Volkers, with an asking price of $50 million, following the renovations. Benson previously brokered the original sale, for $39.6 million, from developer Iluminus Group to the current owner. Carney Logan Burke Architects and Magleby Construction collaborated on the six-bedroom, 11-bath home, which spans 17,567 square feet. It sits on 5 acres, with ski-in/ski-out access to the Park City resort. Avatar's T.R. Hazelrigg IV said in a statement, The estate's stunning setting and master-level artisanship are on par, and complement each other seamlessly. Avatar was delighted to be Iluminus Group's capital partner and to play a significant role in making this dream home a reality.” The Wall Street Journal reports that the seller is billionaire Russ Weiner, creator of the Rockstar Energy beverage empire, which he sold three years ago to Pepsi for about $3.2 billion.

ReMax

Beddall

Balliet

Residential brokers Lyndal Balliet and Bonnie Beddall are now owners at ReMax, the company recently announced. Both have been with the firm for two-odd decades, and have deep experience in the field. Balliet will oversee the Eastlake office, with Beddall based in Bellevue. Together, their practice is now called ReMax Metro Eastside. Beddall said in a statement, “We have a wonderful culture of professionalism, learning and collaboration to carry with us into the future that will continue to attract the brightest minds in real estate today.”

Feb 23, 2023

Inside T-Mo HQ

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Tech firms are trying to lure workers back to the office, and T-Mobile has the additional enticement of having completed a $600 million renovation of its Factoria campus last year. Now the telecom provider will let you take a look, courtesy of NAIOP, which is sponsoring the March 28 tour. It'll include representatives from Gensler and Andersen Construction, which led the effort, and from project manager MGAC. And for the proud tenant, Darcey Estes, Carol Reifsnyde, Brennan Veys and Try Fletcher will also be on hand. Details and registration: naiopwa.org.

Kidder Mathews

Gellner

Kidder Mathews announced its recent hiring of David Gellner, who joins the firm as executive VP with a specialty in commercial and retail properties. He makes the move from CPX (formerly Capital Pacific). With a decade in the trade, he's helped close deals worth over $500 million. KM's Monica Wallace said in a statement, “We are ecstatic to have David join us on the retail investment sales team. He is a leader in his market and will be a great fit as we continue to grow all aspects of our retail group.”