Close to half a billion dollars in financing
According to information first reported by Bloomberg, Stockman Development LLC, led by Marquee Development, has secured financing of approximately €424 million ($482.5 million) from GoldenTree Asset Management for its The Stockman project. The funding will move forward The Stockman, Auberge Collection, where construction has just begun at the base of Steamboat Resort.
The project was unveiled in the spring, when The Stockman joined Auberge Collection, and now reaches a decisive milestone. It will combine 95 private ski-in, ski-out residences with a 59-room Auberge Collection hotel, offering direct access to the ski area and the operator’s level of service.
More than a quarter of the residences already under contract
The financing has closed against a backdrop of strong residential demand. More than 25% of the residences have gone under contract since sales launched at the beginning of the summer.
These sales include four of the rooftop Barn residences, the project’s signature homes. One of them, listed at approximately €16.7 million ($19 million), is the highest-priced residential transaction signed in Steamboat in 2026.
Marquee Development bets on the destination
For Eric Nordness, Managing Principal of Marquee Development, the choice of Steamboat rests on the destination’s long-term vision. Speaking to Bloomberg, he explained that Steamboat stood out to the company for its long-term vision and for the thoughtful way in which the community has approached its growth.
Institutional capital and pre-sales
The combination of institutional capital and well-advanced residential sales strengthens the market positioning of The Stockman.
Analysis – The deal illustrates what has become a standard mechanism in luxury mountain branded residences in the United States: pre-sales of branded residences reduce project risk, which in turn eases access to large-scale institutional financing for a relatively small hotel. Assets operated by Auberge Collection remain closely watched by investors, as shown by Blackstone’s acquisition of Stanly Ranch in Napa Valley.
At a glance by The Hospitality Tribune
The Stockman, Auberge Collection secures $482.5M from GoldenTree
Developer: Stockman Development LLC, led by Marquee Development
Lender: GoldenTree Asset Management, as reported by Bloomberg
Program: 59-room Auberge Collection hotel and 95 ski-in, ski-out residences at the base of Steamboat Resort, Colorado
Sales: more than 25% of residences under contract, including a $19M Barn residence, a Steamboat record for 2026
