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Dancing Bear Under Contract to Golf Course Developers, ADN
Sunrise Company and its chief operating officer Randall Bone — which have the Dancing Bear under contract — have had an office in Aspen for about 13 years, but the company has not developed any projects locally, according to sources who spoke on background.
ASPEN REAL ESTATE - A firm with a history of developing golf communities is under contract to buy Aspen’s half-completed Dancing Bear fractional ownership project.German bank West LB reclaimed the Dancing Bear property through foreclosure in July, after no one put up the minimum bids of $20.4 million for the completed phase one and $15.5 million for the unfinished phase two.The luxury project’s first phase opened across from Wagner Park in 2009 with nine fractional ownership condos sold in one-eighth interests as well as the restaurant Brexi, which is a separate business entity that leases its space from Dancing Bear ownership. At the time of the foreclosure sale, 40 of the fractional interests in the condos were unsold. Brexi is currently operating under a one-year lease that expires in the fall.
By Curtis Wackerle, Jan 13, 2012 ADN
