Lowe JV Assumes 6,300-Acre Resort Ownership

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.