Key Financing Highlights

• $197M in new financing secured from Anchor Loans
• $555M total financing following restructuring of existing capital
• Financing arranged and advised by LFB Ventures
• Equity backing from Toba Capital
• Funding will support construction of private wellness and adventure amenities and vertical development of luxury residences

A $1 Billion Vision for Next-Generation Mountain Living

Velvære spans 60 acres and represents a $1 billion wellness-driven alpine community, developed by Pioche Partners, LLC, a joint venture between Bonfire Collective and VP Companies, Inc. The development integrates luxury homes, cutting-edge wellness amenities, and adventure-focused living. This financing accelerates the build-out of Deer Valley’s expanded East Village and supports strategic partnerships with Fountain Life, Technogym, and Aescape to deliver a high-end, slopeside wellness destination.

Capital Strategy and Market Momentum

“Securing capital that mirrored the nature of our client’s vision was paramount to the capital markets effort,” said Blake Bitterlin, Founder & President of LFB Ventures. “We focused on engaging a single-source capital provider capable of consolidating legacy debt into a streamlined, revolving debt facility that addresses land development, amenity, and home construction requirements across each product type, including the world-class amenities that define this one-of-a-kind community.”

Velvære’s new capital investment follows record-setting market momentum in Deer Valley’s East Village, with strong sales at the new base and multiple estate lot closings between $4 million and $5 million in Q4 2025. This sales velocity reinforces Velvære’s positioning as the next evolution of mountain communities and a premier destination for ski-in/ski-out living.

Unlocking the Next Phase of Velvære

“This financing will unlock the next chapter of Velvære,” said Dayson Johnson, Chief Revenue Officer of Bonfire Collective and Partner at Pioche Partners. “We’re not just building homes — we’re building a community where residents can live, explore, train, and recover with the same resources and energy professional athletes rely on, all while experiencing the connection and joy of mountain living.”

The private, gated community offers direct ski-in/ski-out access via an onsite Deer Valley chairlift, a wellness center (“The Well”) featuring performance and recovery modalities, and a family-focused adventure center (“The Base”) with year-round recreation. The first estate residences were completed in 2024; additional residences and estate lots are under development, with pricing from $4 million to $12 million.

For more information and updates, visit www.velvaereparkcity.com and follow Velvære on Facebook (@velvaereparkcity) and Instagram (@velvaereparkcity).

About Velvære

Velvære is a 60-acre private community with direct ski-in/ski-out access to Deer Valley Resort. Amenities include an onsite private ski lift, extensive ski terrain, an integrated wellness center with advanced modalities, a family adventure center and ski beach, 115 estate homesites, private residences, and cabins. Velvære is a private enclave within Deer Valley’s East Village expansion, offering proximity to the base village with privacy and exclusivity.

About Pioche Partners, Bonfire Collective and VP Companies

Bonfire Collective blends a 50-year construction heritage with experience building ultra-estates and wellness-based master-planned communities in Utah and Idaho. www.bonfirecollective.com

VP Companies, Inc. (founded 1992) focuses on high-end amenitized development and long-term real estate value creation, with more than $1.6 billion in total sales across notable projects. www.vpcompanies.com

About LFB Ventures

LFB Ventures, Inc. (founded 2017) is a leading real estate capital advisory firm in the housing industry, having arranged nearly $3 billion in capital for developers and builders nationwide. Headquartered in San Diego with offices in Los Angeles and New York. www.LFBventures.com