Thursday, March 7, 2013

HFF closes sale of Northstar Lodge, a Hyatt Residence Club in Truckee, CA


Northstar Lodge, Truckee, CA
SAN FRANCISCO, CA – HFF announced today that it has closed the sale of the Northstar Lodge, a Hyatt Residence Club in Truckee, California.  The transaction includes the 23 remaining unsold whole-ownership and fractional residential units, in addition to two entitled development parcels for future phases of the project. 
Holden Lim

HFF marketed the asset on behalf of the seller, LTMR Properties, LLC.  Welk Resort Group purchased the offering for an undisclosed amount free and clear of existing debt.

                The Northstar Lodge, a Hyatt Residence Club, is a ski-in/ski-out private residence club situated at the base of Northstar Mountain in Truckee, California.  Completed in 2008, the first phase of this LEED Silver luxury property features 34 two- and three-bedroom units totaling 51,602 square feet. 

Scott Hall
The club amenities include a private ski & boot valet, swim & fitness center, owners’ lounge and plaza, and media room. 

The adjacent development parcels are entitled for an additional 67 units totaling 102,619 square feet.  

                The HFF investment sales team representing the seller was led by managing directors Holden Lim and Scott Hall.

                “We were pleased to represent the seller in this important assignment, our third transaction in Northstar this cycle.  The Northstar Lodge is one of the finest ski resort residence clubs in the country and presents the new owners with a myriad of value-add execution alternatives,” noted Hall.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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