Powderhorn Sold at Auction
SAM Magazine--August 4, 2011--According to published reports, Powderhorn Resort, Colo., was sold at a live auction today for $2,083,950. The auction consisted of six lots--two sold to one bidder and the other four to separate buyers. The first lot was the ski area, including lifts, day lodge, parking areas, office, two maintenance shops, rolling stock, and retail shop with inventory. Group 2 was the Inn at Wildwood and the other four groups were developable lots of varying sizes.
According to KJCT8 News the bids broke-out as follows:
Group 1 (Powderhorn Ski Resort) and Group 6 (700-acre development tract): $1,402,500
Group 2 (Inn at Wildewood): $247,500
Group 3 (Seven development sites): $143,000
Group 4 (Mountain View Condominium development site): $55,000
Group 5 (15 single family lots): $235,950
All are expected to close within 30 days.