Snowmass Base Village Goes Back to Germany's Hypo Bank, SS

ASPEN REAL ESTATE— The future of the stalled Base Village project in Snowmass Village was decided in about 30 seconds Wednesday. A foreclosure sale on the steps of the Pitkin County Courthouse in Aspen placed the project back into the hands of the mortgage holder, now the German government, Hypo Real Estate Group, for about $520 million. There were no other bids for the project. “This means nothing happens,” said James Pavisha, with Destination Snowmass Services Inc., and receiver of the Base Village project. “These foreclosure proceedings can be really quick, like today, or can get a little exciting, which didn't happen today.”

By Christine Ina Casillas, November 16, 2011, SS

Link to article

See also, "Snowmass Base Village Now in Eurozone", Nov. 17, 11, ADN

A sign for the Snowmass Base Village