{"id":103069,"date":"2021-09-20T10:19:48","date_gmt":"2021-09-20T14:19:48","guid":{"rendered":"https:\/\/huntsville.dopperonline.ca\/?p=103069"},"modified":"2021-09-20T10:35:24","modified_gmt":"2021-09-20T14:35:24","slug":"skyline-sells-deerhurst","status":"publish","type":"post","link":"https:\/\/doppleronline.ca\/huntsville\/skyline-sells-deerhurst\/","title":{"rendered":"Skyline to sell Deerhurst Resort, other resort properties to Freed Corp."},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Deerhurst Resort will have a new owner come the end of October.<\/p>\n\n\n<div style=\"float: left; margin-right: 14px;\"><strong><broadstreet-zone zone-id=\"45658\" keywords=\"\" soft-keywords=\"true\" zone-alias=\"\"><\/broadstreet-zone><\/strong><\/div>\n\n\n\n<p>Skyline Investments Inc. announced today that it has agreed to sell its resort assets and surrounding development lands at Deerhurst Resort and Horseshoe Valley Resort, as well as all of its remaining<br>development lands at Blue Mountain Resort for an<br>aggregate purchase price of $210 million to Freed Corp.<\/p>\n\n\n\n<p>The deal is expected to close on or about October 31, 2021.<\/p>\n\n\n\n<p>Freed and its partners already own Muskoka Bay<br>Resort.<\/p>\n\n\n\n<p>Freed will combine these three resort properties with Muskoka Bay Resort through a newly formed subsidiary, Resort Communities LP.<\/p>\n\n\n\n<p>Part of the deal for Skyline includes a 29 per cent equity stake in Resort Communities LP, which Freed will have the option to purchase until December 31, 2022.<\/p>\n\n\n\n<p>Skyline\u2019s CEO, Blake Lyon, said in a media release, \u201cThis 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 Canada in the last 15 years, according to Beechwood Real Estate Advisors who advised Skyline on the Transaction, and we are excited to be a 29 per cent partner in Resort LP<br>along with Freed, who will now own an expanded portfolio of premier, drive-to resorts in Ontario,<br>Canada. This Transaction allows us to realize the full net asset value of our Canadian resorts, while still participating in the value creation that Freed\u2019s proven development team can produce.<\/p>\n\n\n\n<p>&#8220;Skyline\u2019s investment partner in Blue Mountain, Serruya Private Equity, also expressed their satisfaction and support for this transaction.\u201d<\/p>\n\n\n\n<p>Freed\u2019s Founder and CEO, Peter Freed, commented \u201cThe acquisition of these iconic resort properties will allow us to execute our strategy of modernizing the traditional resort community market to the highest and best use through design-driven development and benefits of world-class amenities with all season access. In addition, the acquisition of these resorts further stimulates the growth in the hotel and resort sectors for Freed.\u201d<\/p>\n\n\n\n<p>Freed Developments was founded by Peter Freed over 25 years ago and is one of the largest private developers operating in the City of Toronto. <\/p>\n\n\n\n<p>Skyline purchased Deerhurst in 2011.<\/p>\n\n\n<h5 style=\"text-align: center;\">Don\u2019t miss out on Doppler!<\/h5>\n<p style=\"text-align: center;\"><strong>Sign up <a href=\"https:\/\/doppleronline.ca\/huntsville\/dont-miss-out-on-doppler\/\"><u>here<\/u><\/a> to receive our email digest with links to our most recent stories.<br \/>\nLocal news in your inbox so you don&#8217;t miss anything!<\/strong><\/p>\n<p style=\"text-align: center;\"><a style=\"background: #5cb85c url('https:\/\/d1iczxrky3cnb2.cloudfront.net\/red_logo.png') no-repeat 37px; color: #fff; text-decoration: none; font-family: Verdana,sans-serif; display: inline-block; font-size: 16px; padding: 15px 38px; padding-left: 75px; -webkit-border-radius: 2px; -moz-border-radius: 2px; border-radius: 2px; box-shadow: 0 1px 0 0 #1f5a89; text-shadow: 0 1px rgba(0, 0, 0, 0.3);\" href=\"https:\/\/donorbox.org\/support-huntsville-doppler\">Click here to support local news<\/a><\/p>\n<p style=\"text-align: center;\"><broadstreet-zone zone-id=\"45657\" keywords=\"\" soft-keywords=\"true\" zone-alias=\"\"><\/broadstreet-zone>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deerhurst Resort will have a new owner come the end of October. Skyline Investments Inc. announced today that it has agreed to sell its resort assets and surrounding development lands [&#8230;]<\/p>\n","protected":false},"author":1903,"featured_media":103075,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1188,10],"tags":[],"class_list":["post-103069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Skyline to sell Deerhurst Resort, other resort properties to Freed Corp. - Huntsville Doppler<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/doppleronline.ca\/huntsville\/skyline-sells-deerhurst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Skyline to sell Deerhurst Resort, other resort properties to Freed Corp. - Huntsville Doppler\" \/>\n<meta property=\"og:description\" content=\"Deerhurst Resort will have a new owner come the end of October. 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