X-Caliber and American Lending Center Increase Senior-Secured Financing for Marcella Landing at Deer Valley, Utah to $171.2 MM
Irvington, N.Y. (August 27, 2026) – X-Caliber Capital Holdings LLC (“X-Caliber”), a nationally recognized direct commercial lender and servicer whose affiliates provide mortgage lending, servicing, advisory, and investment solutions, today announced that XRL-ALC, LLC (“XRA”), an affiliate of X-Caliber Rural Capital (“XRC”), has closed an additional $64MM of senior-secured construction financing for Phase II of Marcella Landing at Deer Valley East Village, an ultra-luxury ski community in Park City, Utah developed by Reef Capital Partners. The combined total senior-secured financing provided has increased to $171.2MM.
The additional $64MM senior construction loan was paired with $67MM of C-PACE financing provided through X-Caliber affiliate CastleGreen Finance for a combined $131MM financing package. This second round of financing will support the construction of a second phase of luxury ski-in, ski-out townhomes and related infrastructure improvements.
Earlier this year, XRA was part of a transaction that provided $107.2MM of senior-secured financing with $75MM of C-PACE financing, totaling $182.2MM to support Phase I of Marcella Landing.
Combined, the financing for Phases I and II totals $313.2MM, consisting of $171.2MM in senior-secured financing and $142MM in C-PACE financing. This unique execution is made possible through X-Caliber’s proprietary Rural PACE-X financing structure that pairs senior construction financing with long-term C-PACE assessment-based financing to help sponsors align capital costs with energy-efficient design and resilient operations.
The financing package delivers a coordinated capital stack designed to support both horizontal infrastructure and vertical construction with program-driven terms subject to underwriting and eligibility.
“Marcella Landing represents exactly the type of transformative residential development we are committed to supporting and is located in an area that holds a special place for me and my family,” said Chris Callahan, President and CEO of X-Caliber. “The expanded Rural PACE-X structure provided the borrower with a highly coordinated capital solution that supports continued vertical construction while preserving flexibility across the broader development timeline.”
Located within the highly anticipated Deer Valley East Village expansion in Park City, Utah, Marcella Landing is an exclusive gated luxury townhome community featuring residences designed by internationally renowned architecture firm Olson Kundig. The development offers direct ski access, luxury wellness amenities, and membership to the Marcella Club lifestyle platform. The additional financing supports continued construction of the community’s second phase while advancing the broader vision for the development.
ALC’s role continues to expand access to senior construction capital alongside mission-driven partners focused on economic development.
“At ALC, we measure success not only by the capital we provide, but by the lasting impact our investments have on the communities they serve,” said Jon Shen, CEO of American Lending Center. “Marcella Landing represents the kind of visionary development that aligns with our mission to finance projects that create long-term economic value, and we are proud to help bring opportunities like this to life.”
Jon Day, chief financial officer at Reef Capital Partners, brings decades of experience structuring complex financing solutions and has played a key role in guiding the vision and execution of Marcella Landing.
“The successful completion of this additional financing package allows us to continue building on the momentum established during the first phase of Marcella Landing,” said Day. “We appreciate X-Caliber’s ability to provide strategic and innovative financing solutions that support the continued growth and long-term vision for this community.”
The financing structure incorporates long-term C-PACE capital to support eligible energy efficiency, resiliency, and infrastructure improvements associated with the project. The energy efficiency improvements financed through the C-PACE component are expected to enhance durability and operating performance across shared systems—an advantage for alpine conditions and year-round use. The improvements are designed to result in lifecycle cost savings of more than $4,347,989 over the life of the improvements, including annual electric savings of approximately $65,536 and annual water savings of approximately 1,152,740 gallons.
“Our objective was to continue delivering long-duration capital that complements the sponsor’s construction and development strategy,” said Sal Tarsia, Managing Partner at CastleGreen Finance. “The additional $67MM C-PACE assessment works alongside the construction financing under a coordinated structure that provides the sponsor with enhanced flexibility to efficiently deploy capital across infrastructure and vertical construction while supporting long-term sustainability goals.”
The Rural PACE-X approach continues to demonstrate how complex, timing-sensitive developments in rural markets, where access to institutional capital is often more limited, can be financed without requiring excessive equity in early phases.
Senior financing is timed to match construction progress and sales milestones. Eligible energy, water, and resiliency improvements are funded separately through long-term, fixed-rate C-PACE financing. This approach lowers carrying costs, preserves liquidity, and helps keep the project on track. The project is slated for phased completion over the next two years.
For more information and full Rural PACE-X product parameters, click here.
About X-Caliber Capital Holdings LLC (“X-Caliber”) – www.x-caliber.com
X-Caliber Capital Holdings is a nationally recognized commercial real estate finance franchise whose affiliate companies provide direct mortgage lending, servicing, advisory, and investment opportunities. Our diverse and growing lending and investment entities support and leverage our expansive and innovative lending platforms that offer FHA, bridge, USDA, and C-PACE financing.
About American Lending Center – www.americanlendingcenter.com
American Lending Center Holdings Inc. (ALC) is a mission-driven, private, non-bank lender committed to expanding access to capital, creating jobs, and driving sustainable economic growth across the United States. ALC is dedicated to advancing innovation and sustainability by supporting startups and projects in sectors including renewable energy, agriculture, and rural healthcare. At ALC, we believe in building stronger communities by fostering entrepreneurship, leveraging global investment, and creating opportunities that empower future generations.
About X-Caliber Advisors, LLC (“X-Caliber Advisors”) – www.x-caliberadvisors.com
X-Caliber Advisors is a nationally recognized commercial real estate advisor that assists developers and owners in their financing needs. XCA is able to access and combine X-Caliber’s various loan products to create an optimal capital structure in a one-stop shopping experience.
About X-Caliber Rural Capital – www.xrcusda.com
X-Caliber Rural Capital is an affiliate of X-Caliber Holdings, a national real estate lending and investment firm. X-Caliber Rural Capital is a national, licensed, and approved U.S. Department of Agriculture lender that provides financing for rural business and economic development projects under four flagship programs that fall under the OneRD Guaranteed Loan Initiative. The company is dedicated to creating attractive solutions for its borrowers that meet the needs of rural communities throughout the country.
About CastleGreen Finance – www.castlegreenfinance.com
CastleGreen Finance is an affiliate of X-Caliber Capital Holdings and embraces the collaboration of commercial real estate construction along with a green energy and carbon emission reduction strategy by providing property owners with the financing tools needed to create and redevelop clean, sustainable, energy-efficient real estate through a superior capital stack.
About Reef Capital Partners
Reef Capital Partners is a vertically integrated real estate investment, development, and operations firm dedicated to enhancing communities through transformative and impactful projects across North America. Reef creates a sense of belonging to something extraordinary by delivering unforgettable experiences that endure for generations. By aligning investment expertise with development vision, Reef Capital Partners is reshaping the future of luxury living, hospitality, and recreation.
