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| The Ritz-Carlton Lake Tahoe, Truckee, CA |
TAMPA, FL and SAN FRANCISCO, CA – HFF announced today that
it has closed the sale of The Ritz-Carlton, Lake Tahoe, a 170-room luxury
resort in Truckee, California.
HFF
marketed the property on behalf of the seller, Truckee Highlands Syndicated
Holdings, LLC. International real
estate investment and services company Kennedy Wilson purchased the property
free and clear of existing debt.
The Ritz-Carlton, Lake Tahoe is a AAA Five
Diamond resort situated mid-mountain at Northstar California providing
ski-in/ski-out access.
Completed in 2009, the hotel features three dining options
including Manzanita, the resort’s signature restaurant by James Beard
award-winning chef, Traci Des Jardins.
Other amenities include the 17,000-square-foot Ritz-Carlton
Spa, more than 15,000 square feet of indoor meeting space, two heated outdoor
pools, state-of-the-art fitness center and business center.
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| Holden Lim |
The transaction also included 23 unsold
condominium units, ranging between 1,500 and 3,500 square feet, and an adjacent
3.4-acre development parcel.
The
HFF investment sales team representing the seller was led by senior managing
director Dan Peek and managing director Holden Lim along with
senior managing directors Michael Leggett and Gerry Rohm,
director Max Comess and real estate analyst Cyrus Vazifdar.
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| Michael Leggett |
“The
Ritz-Carlton, Lake Tahoe is one of the most spectacular ski resort hotels in
the country, offering a truly unique mid-mountain ski-in/ski-out experience,”
commented Peek.
“Beyond the ski
season, it benefits from a beautiful setting for year-round vacationing and
meetings in the world-renowned Lake Tahoe area. We were pleased to represent the seller in the sale of this
iconic asset, and believe the Kennedy Wilson team has acquired an asset with
tremendous future potential.”
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 |
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