Tahoe Beach Club secures construction funding for 2nd phase
STATELINE, Nev. – Tahoe Beach Club — a four-season, private residential community situated along Lake Tahoe’s South Shore — has secured a new construction loan of $115 million from Acore Capital for the second phase of construction.
The founder of Excel Realty Holdings has been an active partner in Tahoe Beach Club since inception and controls ownership of the unique lakefront property.
The new loan from Acore also facilitated Excel Realty Holdings repurchase of $34 million of preferred equity provided by HNGreen Hollow Capital Partners in September 2019 used to construct the property’s beachfront club and Phase II redesign. Excel’s new loan from Acore Capital signifies confidence in Tahoe Beach Club, which broke ground on the second phase of home construction in late May. Upon its completion in mid-2023, Phase II will introduce 48 new luxury residences to the community. The first selection of residences within Phase II will be ready for a mid-2022 move-in date.
“We are pleased to have closed on this new line of financing with ACORE Capital,” said Mark Burton, CEO of Excel Realty Holdings. “We value our relationship with ACORE and IMI Living and we anticipate a successful year of construction and sales as we introduce the next chapter of this lakefront community.”
Tahoe Beach Club, which will offer 143 residences when complete, combines modern livability with understated luxury to provide elevated mountain living. Homes within the community are bright and airy, inspired by the comfort and warmth of the classic lake house, with residences in Phase II ranging in size from 1,256-square-foot, two-bedroom homes starting at $1.6 million to 2,831-square-foot, four-bedroom units at over $4 million. Highlights include open-concept floorplans, lofted ceilings, top-of-the-line Thermador appliances, spa-inspired bathrooms and spacious living areas overlooking picturesque lake, forest and meadow views.
“Tahoe Beach Club is the only community being built offering direct access to the lake, and the new phase of construction is thrilling to see,” said Patrick Rhamey, CEO at Tahoe Beach Club. “With our unmatched location, superior five-star amenities and year-round experiences, Tahoe Beach Club has had tremendous success in the marketplace.”
Residents also enjoy exclusive amenities and member programming at the private clubhouse adjacent to the residential property which includes direct access to Tahoe Beach Club’s private sand beach outfitted with lounge chairs, fire pits and a 160-foot floating pier. Residents can dine at the clubhouse’s year-round restaurant or relax at The Spa at Tahoe Beach Club, offering a signature treatment menu featuring organic Tata Harper products. The clubhouse also features a dedicated Kids’ Zone complete with a movie theater, art studio and arcade games.
Phase I of Tahoe Beach Club was completed last year, allowing the first group of homeowners to move in September 2019. For more information on available residential offerings, please visit https://tahoebeachclub.com/real-estate/.
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