What’s the Big Deal: $70M fetches Snowmass properties in commercial deal | AspenTimes.com

What’s the Big Deal: $70M fetches Snowmass properties in commercial deal

What’s the Big Deal runs Mondays is based on the prior week’s most expensive property transaction recorded in the Pitkin County Clerk and Recorder’s Office.

Price: $70 million

Date recorded: Dec. 16

Buyer: Snowmass Resort LLC (a joint venture comprising Aspen-based RGP Partners, Atlanta-based High Street Real Estate Partners, and Zurich-based ACRON Group)

Seller: Silvertree Propco (an affiliate of Starwood Capital Group, headquartered in Connecticut).

Address: 100 Elbert Lane (Westin Snowmass Resort and Snowmass Conference Center); 40 Elbert Lane (Wildwood Snowmass)

Property type: Lodging and commercial

Year built: Westin built as the Silvertree Hotel in 1967, most recently remodeled in 2013; Wildwood Snowmass originally built in 1967, remodeled in 2000; conference center built in 1984 and remodeled in 2000.

Total heated area: 374,587 square feet

Assessor’s office actual value: $57.7 million (all properties, including ancillary)

Assessor’s office assessed value: $18.4 million

Source: Based on research of data on file at the Pitkin County Assessor’s Office and Clerk & Recorder’s Office

Worth noting: While residential real estate has been getting the headlines for the high-dollar sales volume in 2020, the $70 million sale is the most expensive real deal of the year so far. Meanwhile, last week, three home sales exceeding $25 million were recorded in Pitkin County.

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