The land was bought by Boston real estate firm. It is on South Aspen Street, and at Base of Lift 1A of Aspen Mountain, had been owned by Aspen Land Fund, a subsidiary of Newport Beach, Calif.-based Centurion Partners, which sought approval to build a 122,000-square-foot hotel-residence project.
ASPEN REAL ESTATE — A Boston-based real estate equity firm has acquired 2.4 acres on South Aspen Street, which had been held by a development company hoping to build a hotel known as the Lodge at Aspen Mountain.The closing of the sale was recorded as a warranty deed in the Pitkin County Clerk and Recorder’s Office on Thursday. Alpine Bank sold a promissory note valued at $22.5 million that was owed by Aspen Land Fund II LLC to Alcion Ventures for $15 million.Alcion Ventures, an entrepreneurial real estate private equity firm that executes high-yield investment strategies in select markets, is recorded as the grantee in the transaction.
By Carolyn Sackariason, April 3, 2010 Aspen Times