Intrawest's Copper Mountain Property Sold To Powdr Corp

Intrawest's Copper Mountain Property Sold To Powdr Corp

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Intrawest's Copper Mountain Property Sold To Powdr Corp

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Via SierraSun.com SUMMIT COUNTY, Colo.” The owner of Soda Springs and Boreal ski areas purchased Colorado’s Copper Mountain this week, pending approval from the U.S. Forest Service and federal regulators Officials from Intrawest, which had owned Copper Mountain, announced what they called a definitive deal with Powdr Corp. Tuesday morning, after months of speculation on the sale of Intrawest’s interests at the resort alongside Interstate 70. Intrawest, the Vancouver-based resort and real estate development firm, ran into financial difficulties about a year ago as the real estate market deflated. Since then, financial analysts have said that the company might need to sell some of its assets to raise the cash needed to refinance loans. “It’s a good sign for the industry,” said Jerry Jones, an Avon-based real estate broker who has been involved in numerous ski resort transactions. “It’s the first major sale since the economy cratered last year,” he said, speculating that the sale price may have been somewhere around $100 million. Read more at SierraSun.com Click HERE for the press release.

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