Global commercial real estate advisory firm Newmark today announced that it has arranged a $167 million floating-rate construction loan for the development of Stanly Ranch, located in Napa Valley, CA, on behalf of The Nichols Partnership.
The Newmark team was led by Dustin Stolly and Jordan Roeschlaub, vice chairmen and co-heads of debt & structured finance, along with Nick Scribani and Chris Kramer. The loan was provided by Centennial Bank and TPG.
The Stanly Ranch Resort & Spa and Stanly Ranch Villas is a master development in a world-class location within Napa Valley, CA. The Property is an integrated resort development that anchors a destination winery and residential community and is located within Napa Valley’s historic 712-acre Stanly Ranch.
The fully entitled project will consist of 500,000 square feet of newly developed collateral, including a 135-room resort hotel and spa, 20 condominium “Villas,” 6 single family vineyard homes and a winery and tasting room. The entire project will be branded and managed by Auberge, representing the fourth Auberge hotel in the Napa Valley and their first residential development in the area.
“The premium master development at Stanly Ranch will be an ultra-luxury resort and residential community unlike anything else in Napa Valley, creating a unique and highly sought-after vacation and residential destination,” said Stolly.
“The local expertise from The Nichols Partnership and their extensive track record of premier real estate development make them the ideal sponsor for this complex project,” said Roeschlaub.
About The Nichols Partnership
The Nichols Partnership is a local market expert and is proven leader in high quality urban real estate that is driven to responsibly enhance the communities in which they work by incorporating innovative design and quality materials. Over the last two decades, they have attained a fluency across a full spectrum of real estate types, earned a reputation for quality and responsible development and established the ability to work with a wide spectrum of partners and local governments.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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