SALT LAKE CITY–(BUSINESS WIRE)–March 14, 2022–
D.A. DavidsonSpecial District Group, a nationally recognized team of capital market professionals, successfully secured and closed $30 million of special valuation bonds for Cutalong II Community Development Authority (CDA). The funding will fund the installation of public infrastructure improvements serving a planned mixed-use golf resort community known as Cutalong at Lake Anna, encompassing approximately 1,000 acres in Louisa County, Virginia.
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Image of Lake Anna Golf Course (Photo: Business Wire)
“Our public finance solution is well known in the Intermountain West markets, but its impact extends far beyond a single region, and we are proud to partner with clients who have projects across the country to help them achieve their development goals,” said Brennen Brown, Managing Director of DA Davidson, Special District Group. “As this transaction represents our entry into a new market and an ongoing partnership with Stillwater Equity Partners, we look forward to joining the team on another project as they organize Cutalong at Lake Anna.”
Cutalong at Anna Lake will be a vibrant resort community designed to attract economic growth, recreation and golf enthusiasts.
Lake Anna is known as an attractive vacation destination in central Virginia and attracts million visitors for camping, water sports, hiking and other outdoor leisure activities. Cutalong at Lake Anna caters to a well-rounded lifestyle and vacation experience with the introduction of the first private golf course community at Lake Anna. The championship course, designed by renowned architect Tom Clark, totals 7,399 yards and began operation in 2020.
Conveniently located between Washington, D.C., Richmond and Charlottesville, the Anna Lake-located CDA consists of approximately 743 acres and has master plan approvals for development of a mix of 80,000 square feet of retail space, 876 units residential properties including single-family homes and spacious sites, a 125-room resort property, the 18-hole championship golf course, golf villas and a world-class set of amenities in a marina.
“Cutalong at Lake Anna will have something for everyone, and any amenity-rich, sustainable community requires complex financial mechanisms to meet its infrastructure needs,” said Parker Enloe, principal at Stillwater Equity Partners. “No matter the market, DA Davidson’s Special District Group continues to be our public fundraising partner of choice because of its adaptability, intentional approach, vast experience and collaborative nature as a than business.”
Development within the CDA is expected to be undertaken in phases, with the early phases focusing on the construction of the residential lots, golf villas and duplexes of the members’ cottages. The remaining development phases will be devoted to additional residences and a resort activity center, a fully functional marina and a family village, consisting of approximately 130 turnkey villas and chalets that will be available for overnight rental. Planned facilities include swimming pools, tennis, pickleball courts, restaurant, event center, outdoor amphitheater, fitness facilities, floating docks for up to 92 boat slips and a dry dock for storing boats in winter.
With decades of industry experience, DA Davidson’s Special District Group has grown significantly over the past year across the country, particularly in Colorado, Utah and Idaho, successfully achieving more than 100 transactions, totaling more than $2 billion to finance public infrastructure to support development projects. by issuing municipal bonds. For more information on the DA Davidson Special District Group, visit: https://dadavidson.com/specialdistrictgroup.
About DA Davidson Companies
DA Davidson Companies is an employee-owned financial services company providing a range of financial services and advice to individuals, businesses, institutions and municipalities nationwide. Founded in 1935 with headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,475 employees and offices in 28 states.
Subsidiaries include: DA Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services and advice; Davidson Investment Advisors, a professional asset management firm; DA Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser that provides fixed income portfolios and advisory services. For more information, visit dadavidson.com.
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CONTACT: Julia Bulotti
dovetail solutions for DA Davidson
KEYWORD: UNITED STATES NORTH AMERICA MONTANA VIRGINIA UTAH
KEYWORD INDUSTRY: PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE FINANCE CONSTRUCTION & PROPERTY
SOURCE: DA Davidson
Copyright BusinessWire 2022.
PUBLISHED: 03/14/2022 15:21 / DISK: 03/14/2022 15:21