Utah investment firm seeks control of bankrupt Tamarack Resort, homeowners encouraged

Posted By: The Ski Channel on August 11, 2010 4:06 pm

A Salt Lake City real estate investment firm says it’s offered an undisclosed sum to purchase Tamarack Resort, the bankrupt central Idaho getaway where chairlifts haven’t run since March 4th, 2009.

Pelorus Group’s JT Bramlette told the AP his company wants to buy the resort at a discount given the relative downturn in the economy and the previous difficulties of the project.

The current owners of Tamarack owe approximately $300M to a bank syndicate led by Credit Suisse.

If successful, the bid will grant control of the entire Tamarack operation to Pelorus, in addition to their current stake as operators of Tamarack’s conference center.

Homeowners recently submitted a proposal to officials and creditors to reopen lifts under a 4-day ski week.

Tamarack marked the first new American ski resort in 23 years at the time of its completion in December 2004.