ACORE Capital Lends $75M on Colorado Ritz-Carlton Resort
By Mack Burke March 5, 2020 12:39 pm
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Acore Capital has doled out a $75 million debt package to refinance the 114-key Ritz-Carlton Bachelor Gulch resort in Avon, Colo., Commercial Observer has learned.
The 10-year, fixed-rate loan package was provided to a partnership between global investor Gencom and GD Holdings. The deal was split between a first mortgage and a mezzanine piece, although the separate amounts could not be gleaned. The transaction closed on Feb. 20.
The resort is located at 130 Daybreak Ridge Road on Beaver Creek Mountain in Avon, not far from the well-known mountain village of Beaver Creek.
Built in 2002, the five-star, luxury asset offers the 21,000-square-foot Bachelor Gulch Spa, which has a full suite of treatments as well as saunas. It also has a fitness center and six different dining options, including Buffalo’s Restaurant, and 33,000 square feet of indoor and outdoor event space, according to the property’s website.
Guests also have preferred access to the Red Sky Golf Club, which sports two 18-hole golf courses. There’s a year-round outdoor heated pool, seasonal recreational programs, tennis courts that are open during the summer, “ski-in” and “ski-out” access via the resort to runs located on Beaver Creek Mountain as well as an on-site snowsports concierge and a Beaver Creek Sports ski and snowboard outfitter.
As of now, the standard nightly rate for guest rooms at the resort for non-members starts at $789, as per information from the property’s website.
GD Holdings could not be reached and officials at Gencom were not available for comment.
