Skyline Investments has entered into two definitive agreements of purchase and sale (the transaction) with Freed Corp. for the sale of a 100 percent interest in its Canadian resort assets and surrounding development lands at Deerhurst Resort and Horseshoe Valley Resort as well as all of its remaining development lands at Blue Mountain Resort for an aggregate purchase price of $210 million.
Freed, through a newly formed subsidiary, Resort Communities LP, will combine the assets with Muskoka Bay Resort, an asset currently owned by Freed and its partners, at an agreed value of $90 million, thereby creating a portfolio of premier drive-to Ontario resort destinations.
Blake Lyon, Skyline’s CEO, commented, “This is a milestone for Skyline that provides significant new liquidity to capitalize on our stated strategy to redeploy our investment and operational focus from resorts and development lands into hotels. This transaction represents one of the largest resort sales in
