$30M Refinancing Secured for Forbes Five-Star Resort in Telluride

The Madeline Hotel, courtesy of JLL.

JLL Capital Markets recently arranged a $30 million refinancing for The Madeline Hotel, Auberge Resorts Collection, an 83-key luxury resort with 56 separately-owned condominiums in the popular mountain town of Telluride.

JLL worked on behalf of the borrower, Flynn Properties Inc., to secure the five-year, floating-rate loan through Värde Partners.

The resort, which was originally built in 2009 and underwent extensive renovations in 2020 and 2021, is the only Forbes Five-Star resort in Telluride. Designed as a luxury mountain lodge, guest accommodations feature plush furniture, soft linens, wood case goods and panoramic mountain views. The Madeline offers a spa, 24-hour fitness studio, outdoor retail plaza and the Sky Terrace which includes an outdoor pool, two oversized spas, multiple firepits and a bar. The hotel offers multiple food and beverage outlets, including Black Iron Kitchen & Bar and the Timber Room. In addition to the on-site amenities, the resort offers direct ski-in/ski-out access to the 147 trails of the Telluride Ski Resort as well as curated experiences, such as heli-skiing, dog sledding, snowshoeing and ice climbing in the winter and fly fishing, dirt biking, horseback riding and helicopter tours in the summer.

The Madeline is part of the main plaza in the Town of Mountain Village, a European-style resort town situated on a bluff above the valley floor of the San Juan Mountains and is adjacent to the world-famous Telluride Ski Resort. The towns are connected by a gondola, which provides a 13-minute ride between the two towns and can transport 480 people per hour. In addition to skiing, the area has become a popular destination for festivals, golfing, hiking, camping, rock climbing and other outdoor activities.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Jordan Angel, Executive Vice President Jeffrey Bucaro and supported by Associate Ethan Habecker.

“This property highlights Flynn’s incredible skill as an owner of luxury resorts. The property’s renovations, location and association with the Auberge luxury brand supported many financing options and Värde Partners was selected for their strong reputation and loan terms,” said Angel. 

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