DONNELLY — A partnership of investors and managers known as Tamarack Resort Holdings has assumed ownership of Tamarack Resort in Valley County.
TRH announced Friday that it has closed on the purchase of all of Tamarack's operations and key assets.
The purchase agreement was announced on November 20, ten days before the deal closed. The purchase price has not been disclosed.
Tamarack is scheduled to open for the 2018-2019 skiing and snowboarding season at 9:00 a.m. on Friday, December 7.
"Our team looks forward to proving our commitment to all our guests through investment, completion of unfinished projects and improved resort amenities and offerings," said TRH President John Reveal, who will oversee long-term development and operations at the resort.
Among the projects to be finished is the Village Plaza at the base of the resort.
The owners plan what they call "enhanced" retail, restaurant, lodging and resort operations in time for the 2019-2020 winter season.
Village Plaza is partially completed. It includes 36,000 square feet of ground-floor commercial space and 143 residential condos. Those condos will be offered for sale.
Tamarack opened in 2004, but fell victim to the financial crisis of 2008. The resort briefly closed in 2009 before the Tamarack Municipal Association stepped in.
The investor for the new owners, Imperium Blue, is a joint venture between the Imperium Companies, MMG Equity Partners, and Blue River Family Office Partners.
Imperium Blue's previous and current holdings include commercial real estate and operations at Whistler Blackcomb in British Columbia, Canada; Mammoth Mountain Ski Resort in California; Snowshoe Mountain Resort in West Virginia; Copper Mountain in Colorado; and Stratton Mountain Resort in Vermont.