Newmark Arranges $63M Construction Financing for Steamboat Residential Development in Colorado

June 12, 2025 9:00 AM

Newmark announces the company has arranged a $63 million construction loan on behalf of Steamboat Meadows LLC—a partnership of RAL Development Services, KZ Capital and Latitude Investment Partners. The financing will fuel the first development phase of ROAN Steamboat Springs, a multi-phased, lift-serviced residential development located within the last undeveloped parcel within the Wildhorse Meadows subdivision of Steamboat Springs, Colorado.

Newmark Co-Presidents of Debt & Structured Finance Jordan Roeschlaub and Jonathan Firestone, Vice Chairman Nick Scribani and Associate Director Tim Polglase secured the financing from Builders Capital, led by Dave Kansagor.

“ROAN addresses a significant market gap for turnkey luxury townhomes, and we are pleased to be one step closer to delivery with the capitalization arranged by Newmark, ” said Stuart Taft, Managing Partner at RAL Companies. “Builders Capital has an innovative lending platform that makes them an ideal financial provider for a project like ROAN. Steamboat Springs is one of America’s leading ski destinations filled with natural beauty and a coveted year-round community. Land opportunities here of this quality are incredibly rare and we’re thrilled to bring this project to life with our partners.”

ROAN Steamboat Springs will encompass 78 luxury townhomes ranging from 3- to 5-bedroom units across two elevated parcels, providing its residents premium mountain and valley views, and a superior set of amenities. Initial availability includes 3-bedroom residences priced from $3,600,000 and 4-bedroom residences priced from $4,250,000. Each townhome will feature modern design principles including generous living areas with tall ceiling heights, providing ample natural light. Thoughtfully designed floorplans will include open concept kitchens, private garages and flexible spaces adaptable for various uses. Located at the base of Wildhorse Gondola, the project is strategically located to provide unmatched access to the main ski mountain and nearby Gondola Square.

ROAN Steamboat Springs townhomes are being marketed by Ryan Shattuck and Jon Wade of The Steamboat Group.

Steamboat Ski Resort, Colorado’s second-largest resort, continues to cement its status as a premier destination for outdoor enthusiasts, supported by substantial investments made through its Full Steam Ahead initiative. This transformative program has expanded the resort’s skiable terrain by 600 acres and directed $220 million toward comprehensive mountain enhancements. With a projected annual visitation growth rate of 5%, total visits are expected to exceed 1.5 million by 2028. Steamboat Springs benefits from exceptional accessibility, including direct flights from Dallas–Fort Worth, Los Angeles, New York, Chicago, and many other major metropolitan areas. The town is also reachable by car in just 3 hours from Denver and is only 30 minutes from Yampa Valley Regional Airport—further enhancing its appeal to high-net-worth individuals, destination travelers and second-home owners.

Steamboat residential sales have shown strong annual growth with a 10% average annual increase in value over the last 10 years. The townhome market in Steamboat has exhibited consistent long-term growth, driven by sustained demand and constrained supply Recent townhome sales in the Wildhorse neighborhood have consistently exceeded $1,400 per square foot. With limited new development over the past 15 years, the market has remained undersupplied, contributing to significant price appreciation—particularly in the wake of the pandemic, as high-income professionals increasingly gravitate toward Colorado’s resort communities. Enhanced by substantial capital investments into local ski infrastructure, buyer confidence in the broader Steamboat market remains strong.

To learn more and inquire about availability of the for-sale townhomes at ROAN Steamboat Springs, please visit: roansteamboat.com.

About Steamboat Meadows LLC and ROAN
Steamboat Meadows LLC is a joint venture between; RAL Development Services a developer and owner of luxury residential, office, and hospitality projects throughout the United States and the Caribbean, KZ Capital a leading national owner/investor in real estate projects, with core holdings in New York City and Chicago, and Latitude Investment Partners a boutique real estate investor specializing in ski and leisure environments, with commercial properties at major North American destinations in Utah, Idaho, and Colorado. Further information about ROAN Steamboat Springs can be found at https://roansteamboat.com/

About Builders Capital
Builders Capital is one of the nation’s largest private construction lenders, providing flexible financing solutions to residential builders and developers across the country. With deep roots in the building industry, Builders Capital provides a full suite of financing solutions—including acquisition, development & construction (AD&C), ground-up, bridge, build‑to‑rent, and revolving credit facilities. Since inception, Builders Capital has originated over $12 billion in loans, financing more than 18,000 homes and developing 15,000 lots across 44 states. Builders Capital remains committed to accelerating housing development by delivering innovative, flexible, and responsive financing—supporting builders and developers from blueprint to closing. To learn more, visit builderscapital.com.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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