158 replies to this topic

[Keymech]

I would not be surprised

[jaytrem]

Peter Pitcher, on 03 August 2012 - 01:04 PM, said:

It started as a sealed bid, then BofA started shopping my bid with someone else. BofA wont say who, I don't think it would be dopp as they would already be doing the installation. I wonder if I am just bidding against BofA.

If I was you, I would drop my offer back to original sealed bid offer. Then put that number out here and everywhere else you can think of. If BofA doesn't respect the sealed bid process there's no reason you should either. You might lose the lift, but at least BofA won't be playing games with the two of you, and hopefully whatever it does sell for put less money in their pockets. Good luck with this, you've got a great place there, easily one of my favorites.

[Peter Pitcher]

jaytrem, on 04 August 2012 - 02:53 AM, said:

If I was you, I would drop my offer back to original sealed bid offer. Then put that number out here and everywhere else you can think of. If BofA doesn't respect the sealed bid process there's no reason you should either. You might lose the lift, but at least BofA won't be playing games with the two of you, and hopefully whatever it does sell for put less money in their pockets. Good luck with this, you've got a great place there, easily one of my favorites.

Thanks, that is excellent advice. As you probably know we are bottom feeders in the used lift and snow cat market, our lift tickets are cheap and we don't have lift lines. I made a low ball offer on the Wildwood lift of 1.6 million and I figured it would probably go for north of 2. A couple of weeks after the "deadline", Bof A responded that they would accept the low ball offer but that another party had offered 1.65 million and did I want to make another offer. I did that, 1.75 and they immediately came back with 1.85. I asked Bof A who the other party is and they won't say. I believe that the lift is a really good deal but it is becoming out of our reach. I don't think I will make another offer.
Thanks
Peter

[skier2]

Peter,

If you don't mind me asking, what resort do you own/manage?

[Peter Pitcher]

skier2, on 05 August 2012 - 01:07 PM, said:

Peter,

If you don't mind me asking, what resort do you own/manage?

Discovery

[Lift Dinosaur]

Any new news, Peter?
Dino

[Peter Pitcher]

I am still wondering, but I think it might be going to Andy Daley at Powderhorn

Lift Dinosaur, on 13 August 2012 - 06:39 AM, said:

Any new news, Peter?
Dino

[boardski]

Interesting... Powderhorn is definately in need of a couple of high-speed lifts due to the length (15-20min ride) I wonder which one he would replace first. My guess would be West End (Early 70s Heron double chair)

Back to the topic...Best wishes for success getting back on track at Tamarac and reinstalling a chair on the Wildwood line soon.

This post has been edited by boardski: 14 August 2012 - 06:41 PM

[Peter]

Wildwood Express is gone. Only the shacks and footings remain.

[Peter]

I poked around Tamarack last week when I was passing through the area, and thought I would share in case anyone's interested.

The 3 original lifts - Tamarack Express, Summit Express, and Discovery - were installed in 2004 and ran until March of 2009. They were reopened by the homeowners association the past two seasons. Line maintenance was in progress on both the detachables while I was there. The few employees that are left are being paid by the homeowners I think. I got the sense they were not used to seeing any visitors around but they were all friendly and want the place to succeed.
[attachment=21988:IMG_2528.JPG][attachment=21989:IMG_2549.JPG][attachment=21990:IMG_2602.JPG][attachment=21991:IMG_2616.JPG][attachment=21993:IMG_2618.JPG][attachment=21992:IMG_2483.JPG]


Wildwood Express was removed by Bank of America (actually Highlander Lift Services of McCall) earlier this summer. All that's left are the footings and empty lift shacks. It was pretty depressing to see all the work that went into creating this terrain just a few years ago, only to have the lift removed. Luckily, all of Tamarack's vertical can still be accessed by the other lifts.

[attachment=21994:IMG_2500.JPG]
Even the trail maps are gone.

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At least it would be easy to put a new lift in if they ever have the money.

[attachment=21996:IMG_2513.JPG]
Empty, unlocked shack.

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This would have been a great souvenir, but I resisted the temptation.

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Log showing the last fault in February 2009, a month before Wildwood closed for good.

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Doppelmayr CTEC stat sheet.

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Looking down the old line. This seemed like of some of Tamarack's best terrain and now it's gone.


The Buttercup lift has not run for a few years because Tamarack had not been making its payments to Bank of America. Members of the homeowners association committed to purchasing it this summer, so presumably it will run this season.
[attachment=21986:IMG_2635.JPG][attachment=21987:IMG_2646.JPG]


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Mid-mountain lodge. I don't think this building ever opened.

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Trail map showing the Wildwood area now out of bounds.

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The "village" all wrapped up. Notice the tower crane is still there.


The skiing here actually looks like it would be pretty fun. The views of Lake Cascade are beautiful and the vertical drop is more than 2,300 feet. The facilities that are completed are really nice. I really hope that some company comes along and makes it profitable. To have the remaining facilities close and the equipment sold off would be a real shame.

[boardski]

Would a used fixed-grip chair be a more cost-effective alternative until the finances are available to upgrade to high-speed or do finances not allow for that? At least then, the terrain could stay open and the footers are already in place for a lift.

[Peter Pitcher]

I think Wildwood went to Canada, Sunshine Village I presume

[liftmech]

The only problem with the footings from a previous lift is that they may not be engineered for a new lift.

It's a shame, really, to see the place shut down. We lost many good guys from all departments there, and they all ended up coming back or going elsewhere. I don't think a single ex-Copper employee stayed there.

[DonaldMReif]

Peter Pitcher, on 04 September 2012 - 07:21 PM, said:

I think Wildwood went to Canada, Sunshine Village I presume

I think that was actually Timing Flats, the Olympic quad from Whistler.

[Peter]

DonaldMReif, on 14 September 2012 - 02:01 PM, said:

I think that was actually Timing Flats, the Olympic quad from Whistler.

There's no reason Sunshine couldn't have purchased a second used Uni-GS. Perhaps to replace Tee Pee Town, the only lift that has yet to be replaced by a quad.

[Peter]

COURT CLEARS CREDIT SUISSE TO SELL TAMARACK ASSETS


SAM Magazine—Boise, Idaho, Sept. 26, 2012—A district court judge has refused to block Credit Suisse from foreclosing on Tamarack Resort, thus giving the bank leeway to request a sheriff’s sale for its portion of the resort—including the lifts and on-mountain facilities, golf course, and more than 2,000 homesites. According to a lawyer for the Tamarack Municipal Association, which has operated the resort for the past two seasons, a sale could occur in the next 60 days.

Credit Suisse, however, has not revealed its plans for the resort.

That’s not surprising, since other components of the resort are still tied up in court proceedings. According to the Associated Press, four additional Tamarack creditors are still pursuing their own foreclosure bids on other properties that are integral to the resort, namely, the partially built retail spaces, condominiums and townhomes of the base village. It’s likely that any suitor for Tamarack would want to learn the outcome of those claims before stepping forward.

In the meantime, the Tamarack Municipal Association homeowners’ group is moving ahead with its plan to operate the resort again this season, as it has for the past two. The homeowners’ group operated at break-even two years ago, but lost $300,000 on operations last season.

[Peter]

http://www.ktvb.com/...-249354341.html

Quote

Credit Suisse acquires bulk of Tamarack Resort for $80 million
Posted on March 10, 2014 at 5:17 PM


TAMARACK -- In a sheriff's sale on Monday afternoon, Credit Suisse was the only bidder on three big sections of Tamarack Resort. With its deal, Credit Suisse now owns almost every part of the resort, except for the unfinished Village Plaza, which is an incomplete part of the resort now owned by the project's general contractor.

In Monday's deal, Credit Suisse completed a credit bid to own the physical properties, rather than the collateral interest. The financial group now holds the mountain assets and Heritage portions of the property (for $65 million), the Whitewater and hotel parcels (for $10 million), and the Lake Wing property, which was designed to be a "sister" to the Lodge at Osprey Meadows.

The sheriff's sale Monday and resulting Credit Suisse ownership is considered by the Tamarack Municipal Association to be the most significant answer to financial questions in the post-bankruptcy years.

"It's very significant because there was quite a bit of uncertainty as to who would own it and who would be responsible for all those different properties," Stephen Lord, Tamarack Municipal Association's attorney, said.

With Credit Suisse now fully-owning the majority of site titles, rather than collateral interest, the association's executive director believes a sale would be easier and allow the resort to resume construction.

The financial group will need to wait at least a year to sell the property; once that time period passes, a new owner can take the property "free and clear" of previous financial issues.

For the Tamarack Municipal Association, the Credit Suisse bid to formally takeover most of the property was the best possible outcome.

"One of the benefits is that it for the near future assures that recreation, especially on the ski hill, will continue uninterrupted for the near future," Lord said. "It means it's likely that in the near future, another developer could come in and acquire the property and restart development, and it means the title to all these things is no longer confused or unclear, which means it's now marketable."

Moving ahead, the Tamarack Municipal Association says it will continue to operate everything including the golf course and ski areas.

"You will see no changes in the operation of the resort," Tamarack Municipal Association Executive Director Tim Flaherty said.

The only other portion of Tamarack that remains to be settled is a group of empty lots that should be settled early next week. The lots include the property where the Fairmont Hotel was supposed to be built. Once that property goes to a formal owner, the process of determining who owns each part of the resort will be finished.

[Peter]

Finally, new ownership at Tamarack. 7 day operations, $2.6 million in improvements.

http://www.saminfo.c...ands-operations

[RibStaThiok]

Well they've got some good lifts there, let's hope they can keep building on that and keep things going on the up and up. Best wishes to them!