Going once, gone.
The first offering of luxury resort real estate property in the Fairmont Tamarack, a joint venture development between Agassi Graf Development and Bayview Financial, L.P.’s Real Estate Investment Group at the all-season Tamarack Resort outside Cascade sold out in less than seven hours.
Agassi Graf Development is owned by former tennis stars Andre Agassi and Steffi Graf, and on Saturday, March 17, buyers nabbed all 125 condominiums and hotel-condominiums made available, for a total cost of $140 million.
“Tamarack Resort has become synonymous with ‘luxury mountain lifestyle’. The overwhelming success of the first Fairmont Tamarack offering validates that designation, adding a whole new dimension to our resort as the pinnacle hotel offering and the first luxury hotel flagship in the state,” said Jean-Pierre Boespflug, chief executive officer of Tamarack. “Tamarack will join the esteemed ranks of America’s other mountain destination resorts which have luxury flagship properties…. The addition of The Fairmont Tamarack is a significant step in the development of our young resort, and is an additional jewel to complement all that nature has provided.”
Tamarack’s Village is set up in phases; the Fairmont Tamarack is the third phase. The second phase is the Village Plaza, scheduled to open summer 2008. The Village Plaza is gearing up to be the heart of the resort and will feature boutiques, shops, restaurants, a movie theater, and hotel condominiums
Tamarack has had seven successful real estate releases since January 2004. This is the seventh release of real estate at Tamarack but the first release of Fairmont Tamarack real estate.