Just in! Crested Butte and 13 Other Ski Areas Sold from one hedge fund to another, as explained in this short video from the Denver Post. CNL Lifetime Properties, a real estate investment trust out of Florida has had many of its ski properties for sale for a while now. The goal was to have them all sold by the end of 2015, however the ski properties didn’t go under contract until recently. A hedge fund, called ERP Properties has purchased the 14 resorts, including Crested Butte Mountain Resort. Crested Butte Mountain Resort is the only ski resort in Colorado included in the massive real estate package. If the sale is completed, the $830 Million transaction will be the largest in ski industry history. It is important to note that the with the change of ownership, operations, policies and employees will likely remain unchanged, as Crested Butte has a long term lease for management and operations in place.
Unofficial Networks is reporting that EPR Properties will be purchasing the 14 ski resorts listed below:
- Crested Butte Mountain Resort, Colorado
- Brighton Ski Resort, Utah
- Cypress Mountain, B.C., Canada
- Gatlinburg Sky Lift, Tennessee
- Jiminy Peak Mountain Resort, Massachusetts
- Loon Mountain Resort, New Hampshire
- Mount Sunapee Mountain Resort, New Hampshire
- Mountain High Resort, California
- Northstar-at-Tahoe Resort, California
- Okemo Mountain Resort, Vermont
- Sierra-at-Tahoe Resort, California
- Stevens Pass, Washington
- Sugarloaf Mountain Resort, Maine
- Summit-at-Snoqualmie Resort, Washington
- Sunday River Resort, Maine
For more information on Crested Butte events, news, or real estate, please visit CrestedButteForSale.com
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