SUNCADIA — New Suncadia assets have been put on the market and Suncadia Resort managing director Roger Beck said he believes a buyer could be identified within the first quarter of 2021.
New Suncadia has owned the Suncadia Resort for eight years, but development of Suncadia has been ongoing for 16 years and is looking into the potential sale of its ownership in the Suncadia and Tumble Creek communities.
“We’ve hired a broker and listed it for sale. There are many potential purchasers. A price has not been set,” he said. “The whole package of what we own is for sale.
“The Suncadia Lodge units are all owned individually, so needless to say we’re not offering those for sale. But the golf courses, swim and fitness center, along with developed home sites (roads and utilities are in) for sale.”
New Suncadia has made significant improvements in both Suncadia and Tumble Creek totaling over $77 million since 2012. Beck said he expects the transaction to close in the first quarter of 2021.
The sale package would include resort golf courses Rope Rider and Prospector, as well as, the private membership course, Tumble Creek. Eighty percent of the resort’s 6,400 acres are being preserved as open space. The Lodge at Suncadia features 223 condo-lodge units. Portals restaurant and a 16,000-square foot conference center are part of the package.
“The timing is right, given the needs of the LLC owners. It’s the right time for them to divest from this asset,” Beck said. “It’s a big and complicated group of assets. So, it’s going to take a while for potential buyers to understand it. Lowe would like to stay on in a management and ownership role moving forward.”
New Suncadia has managed well during the global pandemic and feels now is the right time to reach out to a new ownership group.
Since Suncadia properties became available in 2003, more than 1,000 homes and condominiums have been completed. Three distinct neighborhoods offer a variety of styles to residents — Suncadia for a resort village experience; Nelson Preserve for dramatic views and easy access to the river; and Tumble Creek for a private retreat within a gated enclave of homes.
The agreement was reached in 2002 and development began in 2004 for the mountain culture resort. Current neighborhoods include: The Lodge, Rope Rider, Prospector, Black Nugget, Tumble Creek, Nelson Preserve, Trailhead and Prospector’s Reach.
Other projects that have developed over the course of time include the Tumble Creek golf clubhouse, a new swimming pool facility in the Nelson preserve and a new organic garden at the Nelson Dairy Farm.
Suncadia was built using many green practices, including acres of dedicated open space, an abundance of native vegetation, and more than 50 miles of walking trails spanning throughout the property.
Seasonal activities and events at the property include the annual Summer Outdoor Movie Series, Harvest Festival and Winterfest, miles of hiking and biking trails, winter ice skating, guided fly fishing tours, paddle boards rentals and much more.
The Swim and Fitness center offers leisure pool, whirlpool spa, dual waterslides and fitness equipment, while Glade Spring Spa features nature-inspired spa treatments. Swiftwater Cellars winery sees plenty of visitors.
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