The ski resort-ownership merry-go-round continues, with Park City-based Powdr Corp. selling one of its California resorts less than two months after acquiring an interest in two Vermont ski areas.

Powdr Corp. sold Alpine Meadows, one of the “Big Seven Resorts” represented by Ski Lake Tahoe, to JMA Ventures, a real estate investment firm in San Francisco that has an $800 million stake in office, retail, industrial/telecom, hospitality, leisure and residential developments.

Terms were not disclosed.

“Alpine Meadows wasn’t really for sale,” said Powdr Corp. spokesman Mark Fischer, “but the folks who are buying are actually putting together a number of things dealing with real estate and resort properties around Lake Tahoe, so this made a lot of sense for them.

“The sale was really driven more on the buyer’s side than by Powdr’s side. It’s just part of business,” he added, noting that Powdr Corp. will retain the ownership of two other Tahoe resorts, Boreal and Soda Springs. The company also owns Mount Bachelor in Oregon.

JMA Ventures, whose best-known property is Ghirardelli Square in San Francisco, last year bought another Tahoe-area resort, Homewood Mountain Resort. It also owns the Tahoe Inn near Crystal Bay and is planning to build a high-end hotel and restaurant along the Truckee River.

Alpine Meadows spokeswoman Jody Churich declined to say how many skier days were recorded this year at the resort, which has 13 lifts and 100-plus designated runs over 2,400 patrolled acres. Average annual snowfall at Alpine Meadows is 495 inches.

The sale will not be completed for several months, Fischer said, “so it won’t affect seasonal employees. A number of senior people will stay with Powdr and continue to run Boreal and Soda Springs.”

Fischer said the sale also should not have any impact on Park City Mountain Resort, another Powdr Corp. holding.

In February, Powdr Corp. teamed with Vermont real estate development firm SP Land Co. to buy Killington and Pico resorts from American Skiing for $83.5 million - plus $5 million in debts and other unspecified liabilities.

“There was no connection,” Fischer said. “The discussions started at different times for different reasons.”

Information from: www.sltrib.com

This entry was posted on Friday, April 6th, 2007 at 11:45 pm and is filed under Hotel. Tags: Alpine America California Crystal Bay development Ghirardelli Square Homewood Killington Lake Tahoe Leisure Oman Oregon Park City Property Real Estate real estate development real estate investment Resort restaurant retail San Francisco Tahoe Truckee Vermont . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.