Ragged Mountain Sold to Utah Developer
SAM Magazine-Danbury, N.H., May 11, 2007-Ragged Mountain ski resort and its 18-hole golf course are now owned by RMR-Pacific, an affiliate of Utah developer Pacific Group. Sale price was not disclosed, but is believed to be about $10 million. RMR-Pacific bought Ragged from Al and Walter Endriunas, who had been facing foreclosure for months. The two have owned Ragged for nearly 20 years and had expanded the resort in recent years, but were unable to keep up payments on a $4.75 million loan.
RMR-Pacific has teamed with Hart/Howerton, a firm that specializes in planning, architecture and landscape design, to make improvements to the ski area and golf course, and to plan the expansion of the resort village. Hart/Howerton has offices in New York, Cambridge, Mass., and Park City among its six locations.