Vail Resorts to Acquire Kirkwood
Vail Resorts will acquire Kirkwood Mountain Resort in a deal expected to close within the next month, making Kirkwood VR’s third property in the Tahoe area and seventh overall. Purchase price is approximately $18 million. Vail Resorts is purchasing the ski resort as well as the undeveloped sites at the center of the base area which are zoned for residential and commercial development. Kirkwood shareholders will retain a participation interest in the base area parcels and will continue to own the remainder of the real estate development sites, including the single family subdivisions in The Palisades and Martin Point and the future village development projects in East Village and Timber Creek, as well as an economic interest in Vail’s village project.
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