The ownership mix at Tamarack Resort has changed again – with two partners exiting, and a Flordia-based investment company taking control.
Imperium Blue, which bought the resort along with MMG Equity Partners in 2018, sold its interest — to MMG.
MMG describes itself as “a privately-owned investment company” and says it works on “acquisition of commercial properties in Florida.” Beyond Florida, it owns or has stakes in Village at Copper Mountain in Colorado and several other commercial properties at ski resorts.
The 2018 deal combined MMG with The Imperium Companies and Blue River Family Office Partners. The latest announcement removes Imperium and Blue River from the ownership picture.
Investments said to continue
Imperium Blue’s Kyle Mowitz was the public face of the acquisition, appearing in front of the Idaho Land Board, and conducting media interviews. Now, his firm will exit the venture.
“We are immensely proud of what the entire team has accomplished over the past three years at Tamarack Resort and remain very excited about what lies ahead for the future of Tamarack,” Mowitz said in a release.
Just this week, Tamarack indicated it had a deal in place to acquire the portion of the Osprey Meadows course it did not already own and said it hoped to reopen the course in phases starting next year. Resort officials announced several other plans earlier this year.
“Our additional investment into Tamarack underscores our family’s commitment to the resort,” MMG managing partner Gabriel Navarro said. “We continue to move forward on all of the initiatives that have previously been outlined by the partnership including expanding the resort, reopening the Osprey Meadows Golf Course, the addition of the marina on Lake Cascade, and the addition of a hotel within the resort.”
MMG, Imperium, and Blue River first teamed in 2016 to acquire a portfolio of ski resort assets for $103-million.
Tamarack president Scott Turlington will remain at the helm of Tamarack.
“The progress made by this partnership since the resort was acquired has been nothing short of remarkable,” Turlington said. “I look forward to continuing to execute on our plan and vision.”