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X-Caliber Increases Total Funding to $313.2 Million for Marcella Landing at Deer Valley East Village, Utah

Business Wire

C-PACE and Senior Debt Support Phase II of Ski-In/Ski-Out Ultra-Luxury Townhomes

IRVINGTON, N.Y., August 24, 2026--X-Caliber Capital Holdings LLC, "X-Caliber," a nationally recognized direct commercial lender and servicer whose affiliates provide mortgage lending, servicing, and investment solutions, today announced the closing of an additional $131 million Rural PACE-X financing package 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 new Rural PACE-X financing consists of $64 million of conventional senior-secured construction financing provided by an affiliate of X-Caliber Rural Capital, XRL-ALC, LLC ("XRA"), and $67 million of C-PACE financing through CastleGreen Finance, an affiliate of X-Caliber. The financing will support the construction of a second phase of luxury townhomes and related infrastructure improvements.

The transaction builds upon the project's previously announced $182.2 million Rural PACE-X financing completed earlier this year for the initial phase of development, bringing X-Caliber's total financing commitment for Marcella Landing to approximately $313.2 million to date. Gabe Mashaal of X-Caliber Rural Capital originated both transactions.

"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 my family and me," 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."

Rural PACE-X is a proprietary financing solution offered by X-Caliber that combines conventional senior-secured financing with Commercial Property Assessed Clean Energy ("C-PACE") financing into a single coordinated capital structure. The structure is designed to provide developers with greater flexibility, long-term fixed-rate capital for eligible improvements, and a more efficient overall cost of capital. Since the product launch in September 2024, X-Caliber and its affiliates have closed over $1 billion in Rural PACE-X volume.

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 access to the Marcella Club lifestyle platform.

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