One Steamboat Place restructures debt
Tuesday, July 26, 2011
The Steamboat Pilot reports that the cloud of a [tag]foreclosure[/tag] filing by a consortium of seven lending banks has been removed and that [tag]Timbers Resorts[/tag] can begin closing some pending contracts and pursuing new sales at reduced prices. This bodes well for [tag]steamboat real estate[/tag] property. Timbers Resorts CEO David Burden said
We and our investor group have made significant multimillion-dollar capital contributions to continue our forward momentum, as well as arranged financing for prospective owners at [tag]One Steamboat Place[/tag]. With this loan restructure completed, the banks are now fully behind One Steamboat Place. The terms of the modified loan, along with additional capital invested from our partners, have provided a very solid footing for the continued sellout of the remaining units in the project. The original motion for foreclosure that had been made by the banks was not the result of poor performance at One Steamboat Place.
One Steamboat Place broke ground in late summer 2007 and continued construction through a record snow winter. It posted $15.25 million in sales during its first round of closings in November 2009. The project includes 80 large condominiums with 38 whole-ownership vacation homes among them.
Catamount memberships on sale
Wednesday, July 13, 2011
There are currently great membership deals at [tag]Catamount[/tag] and current dues are about 50% of last years dues! The membership deposit for a full Premier Membership ([tag]golf[/tag] & [tag]lake[/tag] privileges) is $42,500. Lake membership deposits are $15,000. Dues for both memberships will be prorated to the date you join. Annual dues for the Premier membership are $8,260 and are $4,130 for Lake Membership. This is a significant savings over previous years pricing! About half.
