Intrawest ULC, the owner of Whistler/Blackcomb resort and other resort properties, will be up for auction during the Olympic games with an auction scheduled for February 19th, according to an advertisement in the Wall Street Journal.
Colorado’s Steamboat ski area and Quebec’s Mont Tremblant Ski Resort are also Intrawest Properties. Intrawest is owned by Fortress Investment Group, a hedge fund operator, who acquired Intrawest in a leveraged buyout in 2006.
The legal notice in The Wall Street Journal announced that Wilmington Trust FSB would auction “100 percent of the limited liability company membership interests in Intrawest Holdings.”
“Purchase of the membership interests of Intrawest Holdings would result in the indirect ownership of certain real property and equity interests,” read the notice.
The ad identified other Intrawest resort properties, including locations at Squaw Valley in California, Sandestin in Florida, Lake Las Vegas, Stratton in Vermont, Mont Tremblant in Quebec and “partnership interests” in Whistler Blackcomb.
They certainly scheduled the auction at a time of maximum exposure for the property.
