Sky Lodge Trade Signals Main Street Changes in Park City
- May 18, 2012
Park City’s Sky Lodge is the latest property to change hands after investor Kenneth Abdalla announced the purchase of the iconic boutique hotel. The 3-guest room property is an integral part of the developer’s plans in the area, as Abdalla suggested that the property is part of much bigger investment and development plans for Main Street.
Financial terms of the deal were not disclosed, although The Salt Lake Tribune reported that the hotel was listed for around $12 million. The Sky Lodge regularly winds up on lists of the nation’s top hotels. Travel website TripAdvisor.com notes that the hotel is the best-rated venue in Park City and ranks 14th nationally.
In other real estate news, Centerline Capital Group has recently provided a loan facility totaling $6.6 million that helped the acquisition of two Utah multifamily properties. The company said that it had processed the loan through Fannie Mae’s Multifamily Affordable Housing Program. The program allows financing of Low Income Housing Tax Credit properties. Both properties are garden-style affordable apartment communities located in Layton and South Ogden
Photo courtesy of modern-traveler.com