RootDKJ Posted October 10, 2013 Report Share Posted October 10, 2013 10/10/2013 SAM Magazine--Tannersville, Pa., October 10, 2013--Spirit Realty Capital, Inc., the real estate investment trust (REIT) that owned Camelback Mountain Resort, announced that it has sold Camelback Mountain Resort for $69.25 million, representing a "significant gain on its original investment," says the press release. The REIT bought the area in 2005. "Camelback was a good investment and profitable holding, but it was not consistent with our core principle of investing in operationally essential properties that are generally smaller and more flexible in terms of potential reuse," said Thomas H. Nolan, Jr., chairman and CEO of Spirit Realty. The release does not indicate to whom that area was sold. Camelback GM Charles Blier told SAM that it is business as usual at the resort. More to follow. http://www.saminfo.com/news/camelback-sold-0 Quote Link to comment Share on other sites More sharing options...
sibhusky Posted October 10, 2013 Report Share Posted October 10, 2013 Interesting. It would be nice if it were a ski area conglomerate and not a casino conglomerate. Quote Link to comment Share on other sites More sharing options...
vinnyv11 Posted October 10, 2013 Report Share Posted October 10, 2013 Sold to real estate group. Building houses from Top to Bottom on Cliff Hanger. Lol hopefully its a ski group and we get some sort of a dual season pass with another resort or what not. Quote Link to comment Share on other sites More sharing options...
RidgeRacer Posted October 10, 2013 Report Share Posted October 10, 2013 It's already a shit show over there. Ringling brothers could have purchased it and it wouldn't make a difference. Just keep the Waffle Haus in operation! Quote Link to comment Share on other sites More sharing options...
moe ghoul Posted October 10, 2013 Report Share Posted October 10, 2013 Unreal. Look for further price jacks on everything in the next 2 years. 2 Quote Link to comment Share on other sites More sharing options...
Ride Delaware ? Posted October 10, 2013 Report Share Posted October 10, 2013 I thought some rich dude bought it in 2005. Was his name Berry? What happened to that? Was he the primary partner in the REIT? Quote Link to comment Share on other sites More sharing options...
sibhusky Posted October 10, 2013 Report Share Posted October 10, 2013 (edited) Well, I'd hate for the Poconos to lose a ski area because real estate and hotels were the only thing bringing in money.. Even if you don't ski there, it would impact you if all those people started filling the corrals at Blue. Edited October 10, 2013 by sibhusky 1 Quote Link to comment Share on other sites More sharing options...
Ride Delaware ? Posted October 10, 2013 Report Share Posted October 10, 2013 Even though Camelback is one of the crappiest places to ski in PA, I think they could have got more money..the mountain coaster, zip line, water park, several lodges and buildings and all the modern equipment..I say that because the new blue mountain waterpark is projected to cost about $30 million to build and there's no way it will do the kind of #'s as camelbeach based on location alone!!!Once again, wasn't it bought in 05 by a local businessman? I think he bought it for $48 mil if I remember correctly, so that's a $21 mil gain. That probably includes debt, so they are probably on the hook for even more than the $69 mil. Imagine what it would have cost if they had finished the hotel/waterpark. Is that still going in? They break ground? Quote Link to comment Share on other sites More sharing options...
JFskiDan Posted October 10, 2013 Report Share Posted October 10, 2013 Berry was in the papers as the owner of cb. Unsure how he fits into all of this. If you remember he also showed interest in sno at the time of the sale. When was the waterpark built? Quote Link to comment Share on other sites More sharing options...
Ride Delaware ? Posted October 10, 2013 Report Share Posted October 10, 2013 Berry was in the papers as the owner of cb. Unsure how he fits into all of this. If you remember he also showed interest in sno at the time of the sale. When was the waterpark built? I've been riding CB since 01, and it has been there since then... Quote Link to comment Share on other sites More sharing options...
sibhusky Posted October 11, 2013 Report Share Posted October 11, 2013 (edited) I've got birthday party pictures of Siblet when she was just a tyke...well a bit older. 1998 maybe. Sort of surprised how "the same" she looks. Edited October 11, 2013 by sibhusky Quote Link to comment Share on other sites More sharing options...
RootDKJ Posted October 11, 2013 Author Report Share Posted October 11, 2013 Berry was in the papers as the owner of cb. Unsure how he fits into all of this. If you remember he also showed interest in sno at the time of the sale. When was the waterpark built? I've been riding CB since 01, and it has been there since then...It's been there since the 1980's. Quote Link to comment Share on other sites More sharing options...
RootDKJ Posted October 11, 2013 Author Report Share Posted October 11, 2013 Let's just hope the new owners will keep the alien program and staying open until April.April 4, 2013 April 5, 2013 April 6, 2013 Skiing Camelback in after Blue closes is a love/hate thing. 3 Quote Link to comment Share on other sites More sharing options...
Ride Delaware ? Posted October 11, 2013 Report Share Posted October 11, 2013 I miss Blue even more after seeing those pictures.Except Blue had closed 2 weeks before. Blue definitely has better terrain and vert, but when it's April 5/6, you've gotta take what you can get. I wouldn't complain about a short drive to keep skiing in PA during April. Quote Link to comment Share on other sites More sharing options...
sibhusky Posted October 11, 2013 Report Share Posted October 11, 2013 (edited) It's been there since the 1980's. According to Wikipedia, Camelbeach was built in 1998, although the Alpine Slide was there for WAY WAY before that. Edited October 11, 2013 by sibhusky Quote Link to comment Share on other sites More sharing options...
RootDKJ Posted October 11, 2013 Author Report Share Posted October 11, 2013 According to Wikipedia, Camelbeach was built in 1998, although the Alpine Slide was there for WAY WAY before that.That's probably what I'm thinking of. Quote Link to comment Share on other sites More sharing options...
Ride Delaware ? Posted October 11, 2013 Report Share Posted October 11, 2013 When did the alpine slide stop operating? It wasn't operating in 01 when I first went, and it had already started falling apart. The concrete is significantly degraded today. Quote Link to comment Share on other sites More sharing options...
Johnny Law Posted October 11, 2013 Report Share Posted October 11, 2013 Let's just hope the new owners will keep the alien program and staying open until April. post Dude those pics remind me of that smell, that spring skiing smell....jonesing bad Quote Link to comment Share on other sites More sharing options...
RidgeRacer Posted October 11, 2013 Report Share Posted October 11, 2013 Are there locals at cb? Every time I go its filled with gaper tourists. Quote Link to comment Share on other sites More sharing options...
sibhusky Posted October 11, 2013 Report Share Posted October 11, 2013 Sibby used to be in one of the ski houses. Think Lassie. Quote Link to comment Share on other sites More sharing options...
Rex Goliath Posted October 11, 2013 Report Share Posted October 11, 2013 No Indication that the Scranton Times has picked up on this News! One of the Biggest Transaction in recent NEPA history! with ramifications all on down the line. Quote Link to comment Share on other sites More sharing options...
sibhusky Posted October 11, 2013 Report Share Posted October 11, 2013 And ski dude and skimom... Sibhusky do u still keep in touch with skimom?? I think she unfriended me on Facebook but I'm still friends with ski dude on there. And Papasteeze had a house in northridge. I miss that guy. Skimom? Absolutely. And with Adam. Quote Link to comment Share on other sites More sharing options...
Justo8484 Posted October 11, 2013 Report Share Posted October 11, 2013 Let's just hope the new owners will keep the alien program and staying open until April. April 4, 2013 April 5, 2013 April 6, 2013 Skiing Camelback in after Blue closes is a love/hate thing. while it's always nice to be able to ski somewhere locally after blue closes, conditions were absolutely horrible that day. pretty sure we just stuck it out til barley creek opened and then drank away our sorrows. i can't think of a positive experience i've had at camelback in years, as far as interactions with the mountain/its employees go. that place finds a way to screw me over every time i'm there. Quote Link to comment Share on other sites More sharing options...
AngryHugo Posted October 11, 2013 Report Share Posted October 11, 2013 while it's always nice to be able to ski somewhere locally after blue closes, conditions were absolutely horrible that day. pretty sure we just stuck it out til barley creek opened and then drank away our sorrows. i can't think of a positive experience i've had at camelback in years, as far as interactions with the mountain/its employees go. that place finds a way to screw me over every time i'm there. Maybe the problem is you, Mr Cranky. 3 Quote Link to comment Share on other sites More sharing options...
RootDKJ Posted October 12, 2013 Author Report Share Posted October 12, 2013 while it's always nice to be able to ski somewhere locally after blue closes, conditions were absolutely horrible that day. pretty sure we just stuck it out til barley creek opened and then drank away our sorrows. i can't think of a positive experience i've had at camelback in years, as far as interactions with the mountain/its employees go. that place finds a way to screw me over every time i'm there. Saturday did suck, but Thursday and Friday were awesome days in the sun that I'd like to repeat. Quote Link to comment Share on other sites More sharing options...
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