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| 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.
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| 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.
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| 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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