Sunrise, Related settle suit |

Sunrise, Related settle suit

Staff report

A lawsuit over a botched property deal in Snowmass Village has settled.

Terms of the agreement between plaintiff Sunrise Co. and defendant Related Companies LP and subsidiary Snowmass Acquisition Co. were confidential, according to a joint from both sides or the legal dispute.

“In taking this action, the parties affirm their mutual respect for one another and wish each other well in their future endeavors,” the statement said.

In a lawsuit filed in February in Pitkin County District Court, Sunrise accused the defendants of reneging on an agreement in which Sunrise would buy Base Village Lot 3. The deal was terminated in the fall after Related announced its plans to sell its remaining Base Village assets to Vail-based East West Partners and KSL Capital. Sunrise accused the defendants of secretly negotiating with the buyers even though Sunrise had Lot 3 under contract for purchase.

In December, East West and KSL Capital said the deal to buy the Base Village assets was off the table.

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