ROSLYN, WA-Los Angeles-based Lowe Enterprises has, through an affiliate, formed a joint venture with Suncadia Grand Avenue Partners LLC, a subsidiary of a fund managed by Oaktree Capital Management LP, to assume ownership of the Suncadia Resort here. The new JV and its subsidiaries will own all aspects of the resort including the real estate, hospitality operations, recreational facilities and utility company.
Executive vice president Tom Luersen of Lowe Hospitality Group will continue to oversee the resort sales program while Lowe affiliate Destination Hotels & Resorts will continue to manage the operation of Suncadia. The 6,300-acre resort, located 90 miles east of Seattle, features the 254-room Lodge at Suncadia, the Glade Springs Spa, privately-owned residences, three golf courses and a host of other amenities.
Although Lowe Enterprises tells GlobeSt.com that it cannot discuss price at this time, the firm says it has been part of the Suncadia team from inception and “will continue to offer our guests and homeowners the singular lifestyle and quality service that is a hallmark of Suncadia,” according to Rob Lowe, co-president of the firm. Suncadia was developed by Lowe Destination Development. And although GlobeSt.com could not get confirmation by deadline, according to published reports, window and door maker Jeld Weld was the majority investor.
Located in the Cascade Mountains, Suncadia is set along six miles of the Cle Elum River with 80% of the resort community designated as open space and will have over 50 miles of hiking and biking trails at build out. In addition to the Lodge at Suncadia and Glade Springs Spa, the resort’s premier amenities include three golf courses—Prospector, Rope Rider and the private Tumble Creek Golf Course—a skating rink and outdoor amphitheater, Suncadia Swim & Fitness Center and a variety of dining options. Ownership opportunities within the resort range from condominiums to cabin-style homes to lots for custom homes throughout nine neighborhoods. There are more than 1,200 owners at Suncadia and more than 500 homes have been built.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
