A group of Resort Industry Veterans are to get together to acquire Idaho’s Tamarack Resort. Tamarack Resort Holdings to invest immediately to complete Village Plaza.
Tamarack Resort Holdings (“TRH”), a partnership of investors and managers with decades of development and operations experience at premier resort properties across North America, has entered into an agreement to purchase all of the Tamarack Resort operations and key assets in Donnelly, Idaho.
The announcement follows the State Board of Land Commissioners’ approval this morning to transfer the state lands lease to TRH for continued mountain operations. TRH is purchasing all key assets necessary to operate the resort now and accommodate future expansion plans, including property on mountain, ski lifts and operations equipment, lodge amenities, lodging operations, the telecommunications utility, declarant rights, lake front equipment, sewer and water bonds, a portion of the golf course and the unfinished Village Plaza.
TRH is also purchasing other private real estate assets and parcels and is taking over the lease to operate The Arling Center event venue. The transactions will close Nov. 30, 2018. “We have been evaluating and working on this agreement for nearly two years to truly understand the history and complexities of the resort. The partnership strongly believes Tamarack has a tremendous opportunity to thrive as a four-season destination of choice for Idahoans and visitors from across North America,” said TRH President Jon Reveal. “Our team looks forward to proving our commitment to Tamarack, Valley County residents, Idahoans and all our guests through investment, completion of unfinished projects and improved resort amenities and offerings.”