June 2017 – Laurus Corp. Acquires Three-quarter-acre Parcel Land for Luxury Condo Development in Vail
VAIL, CO. – An affiliate of Laurus Corp., a U.S.-based private real estate investment and development firm, has announced the acquisition of the three-quarter-acre site located adjacent to Hotel Talisa, Vail, which is in the midst of an ongoing transformation to eventually become a Luxury Collection® Resort. Current plans for the parcel include the development of a four-story building with 26 luxury residences and 54 parking spaces.
Situated next to the picturesque Gore Creek, the idyllic setting is steps away from Vail’s Chair 20 lift offering upload and download service for skiers, joining Vail’s few true ski-in/ski-out homes. Designed to convey the warm feeling of a mountain home, these three- and four- bedroom residences range from 1,800 to 3,000 square feet and have gourmet kitchens, indulgent bathrooms, and spacious bedrooms. Owners will have three design packages to select from, each with luxurious finishes throughout.
Owners will enjoy direct access to the services and amenities of Hotel Talisa including its serene alpine spa, athletic club, refreshing pools and relaxing hot tubs, room service, ski concierge and housekeeping, as well as curated collection of alpine-inspired experiences creating “Moments Worth Collecting.” In addition, owners may also have the opportunity to place their homes in a rental program.
“We are pleased to have the opportunity to build in a market that has extremely high barriers to entry,” said Jean Paul Szita, President of Laurus Corp. “The imminent completion of Hotel Talisa’s renovation, formerly the Vail Cascade Hotel, serves as the perfect bridge to developing these condos. Condo owners and guests will have a truly elevated experience that brings the best of the resort into a home.”
Eagle County is home to Vail and Beaver Creek, two of the most preeminent ski resorts in the world, attracting more than 3 million visitors a year to enjoy its winter and summer nature-based activities, breathtaking mountain surroundings, high-end shopping, art galleries, world-class events, abundant culinary experiences and luxury lodging. Vail has been named in the top five ski resort by Ski Magazine 15 times since the survey began in 1988. A vast $2 billion redevelopment of much of the town was completed between 2004 and 2010, transforming Vail into a globally recognized destination that draws affluent visitors from both domestic and international markets.
Visitors to Vail enjoy direct access from nearby Eagle County Airport, which receives airlift unmatched by most mountain communities during the winter season, including non-stop service to New York, Los Angeles, San Francisco, Miami and Chicago. Denver International Airport, approximately two hours away, is the 18th busiest airport in the world and receives hundreds of additional domestic and international flights daily. Finally, as the 6th fastest growing city in the U.S. the population of Denver and the nearly 5 million residents of the Colorado Front Range have easy access to the property via Interstate 70. The property is located at 1300 Westhaven Dr., Vail, CO, 81657.
ABOUT LAURUS CORP.
Laurus Corp. is a real estate investment and development company that specializes in hotels and resorts, office buildings, multifamily and mixed-use properties. With more than $1.2 billion in assets under management, Laurus employs an entrepreneurial investment strategy designed to consistently achieve attractive risk-adjusted returns by creating capital appreciation opportunities through repositioning, restructuring, re-development and intensive post acquisition asset management. The company was founded in 1999 by Andres and Jean Paul Szita, and is affiliated with Ethika Investments, LLC, a real estate private equity firm.
This press release does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment. This press release, together with other statements and information publicly disseminated by the Company, may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements.
Media Inquiries, Contact:
Frederique Szita, VP Corporate Communications