Price: $70 million
Date recorded: Dec. 16
Buyer: Snowmass Resort LLC (a joint venture comprising Aspen-based RGP Partners, Atlanta-based High Street Real Estate Partners, and Zurich-based ACRON Group)
Seller: Silvertree Propco (an affiliate of Starwood Capital Group, headquartered in Connecticut).
Address: 100 Elbert Lane (Westin Snowmass Resort and Snowmass Conference Center); 40 Elbert Lane (Wildwood Snowmass)
Property type: Lodging and commercial
Year built: Westin built as the Silvertree Hotel in 1967, most recently remodeled in 2013; Wildwood Snowmass originally built in 1967, remodeled in 2000; conference center built in 1984 and remodeled in 2000.
Total heated area: 374,587 square feet
Assessor’s office actual value: $57.7 million (all properties, including ancillary)
Assessor’s office assessed value: $18.4 million
$70M fetches Snowmass properties in commercial deal aspentimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aspentimes.com Daily Mail and Mail on Sunday newspapers.
Snowmass Sun
The Westin in Snowmass Village, seen here in May 2020, sold this week as part of a $70 million deal. (Kelsey Brunner/The Aspen Times)
Investors who bought the Westin Snowmass Resort and other properties in Snowmass Village this week for $70 million plan to make the 254-guestroom property a member of Marriott’s Autograph Collection, according to a firm involved in the deal.
The sale of the Westin, the 151-room Wildwood Snowmass lodge and the18,000-square-foot Snowmass Conference Center was documented in a single transaction filed Wednesday in the Pitkin County Clerk & Recorder’s Office.
The sellers were Starwood Capital Group and Wasserman Real Estate, which under the entity Silvertree Propco LLC bought the same properties for $42 million in June 2011 from the Burwell family of Minnesota. The next year they spent $55 million