NEW YORK, NY June 8, 2012 – The dream of owning your own ski area is now attainable. Echo Mountain, fresh off a record-breaking season for revenue and snowfall and a rare Colorado ski area that sits entirely on private land, will be sold by Racebrook and its auction affiliate, Sheldon Good & Company. Echo Mountain will be sold via a sealed bid auction format, with bids due by August 2, 2012.
Opened in 2006, Echo Mountain’s location, just 35 miles west of downtown Denver, offers beautiful north-facing mountain terrain that varies from 9,000 to 11,000 feet in elevation with unparalleled views of the Continental Divide and a ski season that often stretches into May. Echo is known as Denver’s closest and most affordable family-oriented ski and snowboard area and boasted the best snow in Colorado this year. The resort provides guests with a very accessible year-round destination for weddings, mountain biking, hiking, picnics, cross-country skiing and snowshoeing. The owners chose Racebrook and its auction affiliate, Sheldon Good & Company to sell Echo Mountain to enable them to focus on their other business ventures while ensuring a guaranteed date of sale, allowing the new owner time to prepare for the next winter season.
“To have a ski resort situated on 100% private land is unheard of in the ski industry, so Echo Mountain provides an extremely rare opportunity for a local or international buyer to purchase the property and continue its evolution into a unique winter and year-round sports destination,” said John Cuticelli, CEO of Racebrook. “A savvy buyer will be able to enjoy the benefits and opportunities of owning and branding their own mountain resort while leveraging the property’s solid history.” Unlike land leased from the U.S. Forest Service, private ownership allows unrestricted year-round usage as well as advertising onsite and unique brand exposure.
Resort highlights include more than $8 million in improvements with two multi-purpose buildings, which incorporate administrative offices, cafeteria, retail and rental shop, close-in parking and average snowfall of 220 inches with 300 days of sun annually. The property also features a vertical drop of 660 feet that can be expanded to 1500+, 16 named trails; three lifts including a 2000 ft. fixed grip triple chair, a magic carpet surface lift for the learning center and a handle tow for the events area; tested helipad and state-of-the art snowmaking operations with 4 wells and a reservoir. Less than 33% of the 226 acres have been developed and the resort is surrounded by U.S. Forest Service managed property, making its operations expandable through trades or leases.
There are only 26 active, permitted ski areas operating in the state of Colorado and Echo Mountain is easily the closest one to the rapidly growing recreation population along the Front Range of Colorado, making it a possible Winter Olympic event site.
Echo has food, liquor and retail licenses and is one of the few ski/boarding areas with permitted slope lighting and a built-in music system throughout the mountain. It creates a perfect atmosphere for evening skiing and private events and Echo currently hosts night race training for Vail, Winter Park and Loveland ski teams. Winter snowfall is early and plentiful on ideal north and northwest facing slopes, offering superb snow conditions, optimal elevations and a long season. Echo’s current operation was master planned in 2005 by SE Group/Snow Engineering, the leading ski area design and planning firm. Echo’s nearest city is Evergreen, Colorado and the property is close to gambling meccas of Blackhawk and Central City, Colorado. It is also near the Mt. Evans Wilderness Area and Echo Lake.
Bids are due by 4 PM MDT, August 2, 2012 to Sheldon Good & Company, Attn: Echo Mountain Project Manager, 4155 E. Jewell Avenue, Suite 1108, Denver, CO 80222, USA. For additional information on the auction and to view the property by appointment, call (800) 374-4881 or visit www.EchoMtnAuction.com.
ABOUT ECHO MOUNTAIN
Echo Mountain is the Denver area’s closest and most affordable ski and snowboard area. For the latest Echo Mountain news, ticket information, directions and more, please visit www.echomt.com.
Racebrook is a private investment firm founded in 2004 (originally a portfolio company of Warburg Pincus, one of the oldest private equity firms in the world), focusing on opportunity and disintermediation in the real estate and capital markets. Racebrook's principals have executed in excess of $23 billion in commercial real estate transactions and advisory assignments by creating value through its acquisition and disposition process, resolution of property status, efficient management, aggressive asset repositioning and the expeditious implementation of asset specific business plans.
The firm's headquarters are based in New York City, with primary offices in Chicago, Denver, Los Angeles, San Francisco, Miami, Puerto Rico, Jamaica and other strategic locations. Please visit www.racebrook.com for more information.