Golf community developer under contract to buy

SNOWMASS VILLAGE REAL ESTATE — The Snowmass Club & Golf Course, which Aspen Skiing Co. has owned for 23 years, is under contract to be sold. Skico announced Wednesday that Toll Golf, a division of Toll Brothers Inc., which develops and operates golf courses, had signed a letter of intent and will finalize the purchase and sale agreement this week. The deal is expected to close in January, Skico said. The sale will comprise all the buildings and operations of the Snowmass Club, including the restaurants, golf course and other amenities. Toll Golf also will take over management of the homeowners’ associations of the club’s residences, said Skico spokesman Jeff Hanle. David Richey, president of Toll Golf, said his company currently has no plans to make changes to the club. The firm will begin the due-diligence period of the transaction before looking at long-term plans, he said.
By Jill Beathard, December, 6 2012 SS

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