Getting your player ready...
ASPEN – — An Aspen-based developer has joined forces with a national investment firm in its purchase of the Dancing Bear fractional-ownership development for approximately $27.5 million.
Tuesday’s acquisition marked a new era for the financially troubled project, which had been hamstrung by receivership, bankruptcy and foreclosure proceedings.
“It has been a very well-run project even though it’s been through a difficult process,” said Randall Bone, president of Aspen development firm Sunrise Co., which bought the project through a joint partnership — called DBOS Partners — with financier Oaktree Capital Management of Los Angeles.
The seller was German bank West LB, which foreclosed on the property in July.
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