At the end of August, Concord Summit Capital sourced the total construction cost of Kindred Resort at $232.5 million, with the help of Pure Development.
The Kindred Resort is a multi-million dollar project that was originally supposed to start construction in 2021.
The 4.5-acre designated property is next to the Keystone Resort’s River Run Gondola and will include a 107-room high-class hotel, a new ski school, a private ski club and 95 luxury residential condo units, according to a news release.
Concord Summit Capital is a global investment company based in Denver. For the resort, Capital is providing a $140 million senior construction loan, $55.47 million in commercial property assessed clean energy financing and $30 million of preferred equity investment.
Lastly, Pure Development, a premier commercial real estate developer with a location in Denver, made a $7 million co-general partner investment in the space as well.
The project is expected to be finished in 2025, with pre-construction already started.