Fla. company signs deal to purchase Sunlight ski area, pending develompment approval
GLENWOOD SPRINGS – Sunlight Mountain Resort has signed a contract to be sold to a Florida development company, resort officials said Saturday.General manager Tom Jankovsky said the ski area, located near Glenwood Springs, has agreed to be purchased by Exquisite Development, a company based in Destin, Fla., on the Florida Panhandle.Financial terms of the deal are being kept confidential by the privately owned resort. The resort went up for sale last fall at an asking price of $50 million.The sale is subject to contingencies including winning approval from Garfield County for development of residential units at the base of the resort. Sunlight officials say money from the development is necessary to pay for badly needed infrastructure improvements at the resort.Sunlight plans to work in cooperation with Exquisite Development to pursue development approval. Jankovsky said the buyer plans to keep him and the rest of the existing Sunlight management team in place. He said Exquisite Development doesn’t have a background in the ski industry and has done much of its work in Florida.”This is their first venture into Colorado,” Jankovsky said.He said the company is working to put together a development planning team. It has hired local attorney Larry Green, also Sunlight’s attorney, and Louis Meyer, a local engineer who also is on Sunlight’s board of directors.Sunlight officials planned to meet with employees this morning to discuss the sale with them.Mike Dooley, operating officer with Exquisite Development, could not be reached for comment Saturday. Exquisite officials have been in town to introduce themselves to local officials and begin building a development team.”I’m really encouraged because they’re using local folks” on that team, said Richard Schafstall, president of Sunlight’s board.Jankovsky said Sunlight officials had been talking with Exquisite Development since August. They came into contact with the company through a Sunlight board member, Tom Brigham, who is a real estate agent in the Southeast. Brigham’s brother, Peter, used to own the Sunlight Inn and owns residential properties near the base of Sunlight.
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