Colliers International structured finance team comprised of Jeffrey Donnelly Dmitry Levkov and Jim Morris, has been selected by developer New Paradigm Development Partners to secure $524 million in financing for the development of Blue Mist Mountain Resort.
The project is a family-oriented, multi- generational resort on the doorstep of the Great Smoky Mountains National Park, always ranked as the country’s most visited National Park.
Once financing is secured, the project should be delivered in the late fall of 2021 or spring of 2022.
It will feature a 307-key hotel, luxury amenities and services, 200 mountain-style vacation townhomes and 40 luxury four-bedroom vacation residences as well as a half-mile long shopping, dining and entertainment strip surrounding a five-acre man-made lake.
Colliers Senior Managing Director, Dmitry Levkov added that New Paradigm is in discussions with several national operators in both the hotel lodging and vacation rental space. Currently, several hotel operators have submitted or are developing term sheets and operational budgets for the facility. The food and beverage operations will be guided by consultant Jon Taffer, of Bar Rescue fame.