Beaver Creek condo project sold to Front Range company
Vail, CO Colorado
AVON, Colorado – Condo Capital Solutions, a Louisville, Colo.-based company headed by real estate investors Marcel Arsenault and Peter Wells, has purchased the $40 million loan that had been in default for the Gates Residences, a condo project at the base of Beaver Creek.
The property has 49 luxury condominium units, and was completed in 2008. Condo Capital Solutions, a turnaround company that buys distressed real estate, plans a sales launch in December. Prices are expected to be approximately 50-60 percent of the 2008 pricing, with units for sale from the mid-$300,000’s to just over $1 million. No units were sold after the project was finished in 2008
Renamed “The Ascent,” the property offers full condominium ownership. Amenities include underground heated parking, indoor pool and spa, steam room, exercise facilities, and outdoor fireplace and spa.
Support Local Journalism
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User