Ethika Investments, LLC, a real estate private equity firm, has announced the acquisition of the Vail Cascade Resort and Spa, and its plan to allocate additional capital as part of a $35 million complete property repositioning that will begin in the second quarter of 2016.
"Ethika's allocation for the purchase of Vail Cascade Resort & Spa is an excellent example of the firm's ability to navigate changing market fundamentals in order to continue identify outstanding value-add opportunities. Vail Cascade will follow the very successful approach that Ethika has employed throughout this cycle, acquiring assets in high-barrier to entry markets at substantial discounts to replacement cost, implementing a modernization plan to deliver the best quality offerings in the market, and executing key operational improvements to extract value," said Austin Khan, Chief Investment Officer of Ethika Investments. "We pride ourselves on effectively targeting attractive investment opportunities with a significant potential upside for our investors, and are extremely pleased to bring this crown-jewel resort into our portfolio of holdings."
Vail Cascade Resort and Spa is located in Cascade Village alongside the breathtaking Gore Creek. It is only 30 minutes away from the Eagle Airport and two hours from the Denver International Airport.
According to the press release of Ethika Investments in PR NewsWire, the expansive renovation that is scheduled for completion during the 2016/17 ski season will include the 292-room resort and spa. It will also undergo a series of upgrades and enhancements to its ski valet, outfitting services, culinary, meeting space, and foot athletic club.
Ethika Investments is a real estate investment firm and a Delaware certified minority-owned investment firm that employs an entrepreneurial investment strategy designed to consistently achieve attractive risk-adjusted returns by creating capital appreciation opportunities through repositioning, restructuring, re-development, and intensive post-acquisition asset management of underpriced assets. Ethika's team has over $5 billion in diverse real estate transaction and development services experience encompassing design, pre-development, construction, repositioning, investment management, franchising, asset management, and investor reporting across major real estate asset classes.
