Riverwalk Resort Completes Financing, Phase II Underway
Riverwalk at Loon Mountain closed a $49 million credit facility with Western Alliance Bank, in February. Site work already has begun, with an official groundbreaking planned for May.
A five-star luxury resort, Riverwalk is located in Lincoln, NH, at the gateway to the White Mountains. This picturesque project overlooks a vineyard on the banks of the Pemigwasset River, across from the base of Loon Mountain.
“Our whole team is thrilled to start Riverwalk Phase II, thanks in large part to the steadfast work of two strategic partners,” said Riverwalk Developer Dennis Ducharme. “We are especially pleased to have Western Alliance Bank as our construction lender. The Western Alliance team has a deep understanding of construction and resort financing, which has made it easy to take this beautiful project to the next level. Our transaction advisor, Whitebriar Financial, also worked tirelessly to help us commence the second phase of development.”
Completion of Phase II will bring Riverwalk to a total of 145 luxury units and will add a second restaurant, a purpose-built winery, a bigger spa, and a grand ballroom.
“Riverwalk is a beautiful resort and Western Alliance’s Resort Finance team is delighted by the opportunity to work with the entire management and development teams to help bring the second phase of this centerpiece project to life,” said Tracy Gaylord, Senior Vice President and Managing Director of Western Alliance Resort Finance.
“The grand ballroom will include a purpose-built catering facility,” noted Renee Blood General Manager of Riverwalk. “Now we can say ‘Yes’ to all the requests we get for big weddings, family reunions, corporate events, and meetings.”
Riverwalk Phase I was completed in 2016 by Ducharme and his business partner, Billy Curran. Ducharme and Curran also own the InnSeason companies, which operate upscale timeshare resorts in New England and a successful vacation club.
Riverwalk has been sold out of Phase I two-bedroom, three-bedroom, and penthouse suites for almost a year.
“We’ve always had strong demand,” said Brian Willette, Riverwalk Sales Manager. “Even during Covid, because Riverwalk units have gourmet kitchens and make great ‘family pod’, all within an enviable resort environment. When you step out of your door, it’s a wonderland here with 1,200 square miles of mountain beauty, pristine rivers, great skiing, hiking, biking, adventure courses, sightseeing, and lots more. We are now able to accept Phase II deposits, which means we will be able to accommodate that pent-up demand for our bigger units.”
Harry Van Sciver, President of Whitebriar Financial, added, “Not only does Riverwalk accommodate buyers, they also keep it affordable.”
Ducharme explained, “Riverwalk is one of the most beautiful resorts in the Northeast, situated in one of the best drive-to locations in the country. These are million-dollar units, but our fractional program, with financing available, makes them economical.”
Under Riverwalk’s fractional plan, owners receive a deed to one-sixth of a unit, entitling them to eight weeks of year-round vacations every year.
“Not everyone gets eight weeks of time off per year,” noted Ducharme. “So, we have a robust rental program that provides income for owners when they are not staying with us. But if they prefer to have the entire year, we sell whole units, too. Some of the most successful people in New England own at Riverwalk. We invite you to join them, as Phase II rises on the banks of the Pemigwasset River.”
More information about Riverwalk is available by visiting www.riverwalkresortatloon.com/resort
About Riverwalk
Riverwalk at Loon Mountain is a mixed-use Resort located in Lincoln, NH, one mile from Interstate Route 93 at the base of Loon Mountain. Riverwalk offers luxury ownership and rentals in one-bedroom, two-bedroom, three-bedroom, and penthouse suites, all with full kitchens. On-site amenities include La Vista, a full-service restaurant; Seven Birches Winery and Tasting Room; Solstice Day Spa; a gym, indoor and outdoor pools, and a skating rink in winter. For Reservations, call 603.745.7500. For Sales, call 603.728.6205. www.riverwalkresortatloon.com/resort
About Western Alliance Bank
With more than $50 billion in assets, Western Alliance Bancorporation is one of the country’s top-performing banking companies. The company is again #1 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2020, ranks high on the Forbes “Best Banks in America” list year after year, and was named #1 Best Emerging Regional Bank per Bank Director’s 2022 RankingBanking study. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps business clients realize their ambitions with teams of experienced bankers who deliver superior service and a full spectrum of customized loan, deposit, and treasury management capabilities, including blockchain-based offerings. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial services brands and has offices in key markets nationwide. For more information, visit Western Alliance Bank online.
About Western Alliance Resort Finance
Western Alliance Resort Finance, a national banking group within Western Alliance Bank, Member FDIC, specializes in providing financing to U.S.-based timeshare resort developers, with a high level of expertise and responsiveness. The team of leading professionals caters to the needs of the industry by providing a variety of lending and depository services nationally to developers, and specializes in financing for land acquisitions, construction, inventory acquisition, and receivable hypothecation, with additional loan products for resort HOAs and resort management companies.
Whitebriar Financial Corporation provides financing, equity, and transaction advice to resort and financial clients and partners. www.whitebriar.com
