HOSPITALITY
Black Desert Resort
Ivins, Utah
Reef Private Equity managed the acquisition of 602 acres that represent the remaining final phases of development within the prestigious Entrada at Snow Canyon Development, known as “Black Desert”. These next phases will host a variety of uses including additional hospitality, retail, and residential products as well another 18-holes of golf and more community amenities.
Several of Robert Redford’s famous movies were filmed within minutes of Entrada, like Butch Cassidy and the Sundance Kid, Electric Horseman and Jeremiah Johnson. Entrada, also fictitiously known as Lava Springs Country Club, was made famous when Disney chose Entrada to be the location for the filming of High School Musical 2, which took place in spring of 2007. The August 2007 premiere was seen by a total of over 18 million viewers in the United States which is almost 10 million more than its predecessor, making it the highest-rated Disney Channel movie of all time. The movie’s stars stayed at the Inn and many Entrada residents were extras in the movie.
The Entrada Golf Course opened in 1996. It’s award-winning Johnny Miller Signature Design 18-hole golf course stretches across 710 acres of desert landscape against a backdrop of red sandstone cliffs, rolling dunes, black lava beds and rugged arroyos. Entrada was recently rated Utah’s top year-round private golf course, number 5 overall for Utah by Golf Digest.
Entrada at Snow Canyon is a premier development located in the St. George, UT area. The project was started over 20 years ago. Since its inception, approximately 800 acres of the 1,400 have been developed. There have been over $164,000,000 in sales within the Entrada development to date.
LAND DEVELOPMENT
Cutalong Golf Community
Lake Anna, Virginia
Cutalong is a master planned community just outside of the town of Mineral in Louisa County, Virginia. Upon completion, Cutalong will include an 18-hole championship golf course, tennis courts, horse stables, access to Lake Anna via community docks, beach, and boat hotel, as well as other amenities. The championship course designed by renowned architect Tom Clark will total 7,399 yards with holes inspired by many of golfs most classic courses. Clark enlisted, as a consultant, Ron Whitten, longtime senior architecture editor of Golf Digest. Together they combined knowledge of old and new courses to create a historic highlight at Cutalong.
Offering townhouses, golf course cottages, single-family lots and estate lots, the Cutalong community has something for everyone. Within each section there are lots with a variety of views: some with limited views that offer affordability, and others with views ranging from open space and cul-de-sacs to every possible golf course view. In addition, several high points within the Master Plan allow for views that overlook the golf course, and include the beautiful mountains in the distance. All of the lots in the community have access to Lake Anna via a common area beach and boat dock
MULTI FAMILY
Fairway Springs
Park City, Utah
Fairway Springs is a luxury ski and golf villa community located on a private drive that overlooks the beautiful Snyderville basin in Summit County, Utah. Fairway Springs is tucked between two rolling golf fairways for ease of access to summer golf, which is among the many summer activities available in the area. Fairway Springs is also conveniently located just below the ski slopes at The Canyons Village of Park City Resort, which Vail Resorts’ acquired in 2016 and is undergoing expansion to connect to their Park City Resort. From Fairway Springs, you’re a mere minute’s drive to the heart of resort, and just a short walk from the new Frostwood gondola and situated right above the Waldorf Astoria and the new Wyndham Park City.
LAND DEVELOPMENT
Marcella
Park City, UT
Reef acquired 323 acres of estate lots within Extell Development Company’s Mayflower Mountain Resort which is adjacent to Deer Valley in Park City. Mayflower’s 4,300 acres is the first new destination ski resort in North America in over 40 years. It will include infrastructure with several new ski lifts allowing skiers and mountain bikers access to extensive terrain, both summer and winter, while overlooking the Jordanelle Reservoir. Reef’s Marcella project represents a recreation-rich selection of luxury ski-in/ski-out homesites which are situated on a hillside flanking Deer Valley Resort and will offer direct ski access through public and private trails from its 150 single-family estate lots.
HOSPITALITY
Red Mountain Resort
Ivins, UT
Red Mountain Resort was acquired in 2022 and includes a fully operational 130 room hotel/condo operation and 32 developable acres. As one of the most ideally located resorts in St. George, Utah, Red Mountain Resort allows for customized adventures to Zion or Bryce Canyon National Parks, while Snow Canyon State Park is only about a quarter of a mile down the road.
OFFICE
Chicago Commercial
Rolling Meadows, Illinois
Reef Private Equity has been active in the office arena of Chicago’s submarkets since 2014. Reef Private Equity has sponsored several properties totaling a million square feet of office space. Current office assets reside in the cities of Oakbrook Terrace, Schaumburg, and Rolling Meadows and total 676,000 leasable square feet.
Through its partnership with Helios Property Management, Reef Private Equity has been able to acquire all of these as underperforming assets and stabilize them within a short period of time. Thus, maximizing investor returns and earning confidence.
ENTITLEMENTS
Thomson Farms
Rexburg, Idaho
Thomson Farms is a proposed masterplanned community located strategically between Brigham Young University Idaho and a new Super Walmart shopping center in Rexburg, Idaho. The property encompasses 60.33 acres of land that has been historically used for agricultural purposes. Reef Private Equity, through a subsidiary, acquired the property along with five shares in the Teton Island Canal Company in 2017. Since then, Reef Private Equity has been working with their development team and Rexburg City’s staff to entitle the property which includes a rezone, PUD, and preliminary plat approvals.
Thomson Farms has been planned as a mixed-use development. At build-out, the property will host a variety of uses that could include retail, a food store, fast food restaurants, office space, apartments, townhomes, and single-family residences. Walmart is currently the primary food store in Rexburg and is located at the north end of the city limits. BYU-Idaho’s campus is within the southern portion of the city. Thomson Farms is situated at roughly the halfway point. The shopping demand from students is so high that Walmart offers a free shuttle to and from campus to their store. This shuttle passes right by the Project.
RETAIL
Westgate
Colorado Springs, Colorado
Reef Private Equity and Signature Realty Capital Corp. have partnered to develop the approximately 66.22 gross acres of mixed-use land on the northwest corner of Powers Boulevard and Airport Boulevard just west of the west entrance of Peterson Air Force Base in Colorado Springs, Colorado. The intersection is a major inter-change along the Powers Boulevard corridor, which will eventually be converted to a limited access expressway along the eastern edge of the city which is planned as the main north-south transportation corridor for the metro area.
Colorado Springs' economy is driven primarily by the military, high-tech industry, and tourism, in that order. The city is currently experiencing growth in the service, commercial real estate, and residential real estate sectors. The Westgate Development will provide the community with needed retail and housing as well as office space for the expanding civilian businesses that support the growing needs of Peterson Air Force Base.