New developer to purchase Granby Ranch
Two Missouri-based real estate developers are planning to buy Granby Ranch.
On Wednesday, GR Terra and its affiliates entered into an agreement to buy the ski and golf resort along with the associated residential development around it.
According to a news release that announced the sale, St. Louis-based Bob and David Glarner are the principals of the company.
“We have been visiting Granby Ranch for years and have come to truly understand how special the resort and the greater Granby community truly is,” Bob Glarner said in a statement. “We think there’s tremendous opportunity at Granby Ranch, and we’re thrilled to have the chance to be associated with one of the great family-friendly destinations in the Rocky Mountains.”
The sale is expected to be finalized within the next 30 days, but the associated parties have declined to disclose the financial details of the transaction. The acquisition of Granby Ranch includes all the assets associated with winter and summer resort operations, plus adjacent land parcels.
Subject to closing, GR Terra plans to enter into an agreement with Ridgeline Executive Group, which would continue managing the summer and winter operations of the resort. Jace Wirth, co-founder of Ridgeline and the resort’s general manager, said Ridgeline is excited to move forward with GR Terra.
“We believe the purchase presents a tremendous opportunity to re-energize Granby Ranch and enhance the experience of skiers, visitors and homeowners alike,” Wirth said.
Touchstone Golf will also continue to manage the Granby Ranch Golf Course.
The news release said that while the Granby Ranch development has suffered from inconsistent operations and deferred maintenance leading to its forclosure last year, GR Terra is committed to investing the resources needed to realize the full potential of the development.
According to the Missouri Secretary of State, GR Terra was created April 12.
The release added that in conjunction with the resort purchase, affiliated entity BDG Realty has acquired the title to the condominium property included in Headwaters Metropolitan District.
That property, previously owned by an out of state resident, had allowed three Granby Ranch homeowners to enter option contracts that made them eligible to serve on the Headwaters board. After the trio was passed over in a move they call illegal, they began pursuing legal action against the metro district.
This newly announced purchase could disqualify the three homeowners from serving on the Headwaters board.
“BDG Realty’s acquisition of this property will help resolve pending disputes concerning the composition of the Board of Directors of Headwaters Metropolitan District and facilitate the activities of the board in support of the best interests of the resort and the entire Granby Ranch community,” the release said.
The release added that more information would be available after the completion of the sale.
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