Credit Suisse Buys Most of Tamarack at Auction
SAM Magazine--Tamarack, Ida., March 11, 2014--In an auction on Monday, Credit Suisse, the main creditor for Tamarack, was the only bidder for three large sections of Tamarack Resort at a sheriff's sale. According to KTVB news, Credit Suisse now owns most of the physical properties instead of collateral interest, including the mountain assets and property for $65 million, hotel properties fror $10 million and another property.
With one owner, the future of Tamarack is less in doubt. Credit Suisse can hold onto the whole property for a year and then sell it free and clear of previous financial issues. The Tamarack Municipal Association told KTVB that it will continue to operate the golf course and ski areas and that it will be business as usual for recreation-seekers.