Vancouver-based Intrawest ULC., which owns a primary venue of the 2010 Winter Olympics, continued to sell off assets in the midst of the serious financial troubles surrounding its corporate owner
On Tuesday, Intrawest said it plans to sell its 2,400-acre Sandestin Gold and Beach Resort in northwest Florida to the Becnel family. Financial terms of the deal were not disclosed, but the deal is expected to close in the first quarter of 2010.
The purchase agreement includes the management contracts for Cottage Rental Agency, a community of beach homes located in Seaside, Florida and two hotel properties.
This is Intrawest's fourth resort sale in recent months. Last week, it announced it was selling the Village at Squaw Valley at Lake Tahoe. In late January it sold the Panorama Mountain Village Resort to a local consortium of investors.
Last December, Intrawest closed the sale of its Copper Mountain resort in Colorado, which it had owned since 1997.