October 24, 2007
HVS Capital Corp, the investment-banking arm of HVS Global Hospitality Services, has been selected as the exclusive representative to market for sale a fully entitled condominium hotel project to be constructed on a 27,000 sq.ft. parcel located on 500 West Hopkins Avenue, between 4th and 5th Street in downtown Aspen, Colorado. The site is formerly known as the Boomerang Lodge.
In October 2006, the City of Aspen issued an approval for the site to be redeveloped with 54 condominium lodging and residential units. This approval is transferable to the new owner of the site. Although much of the original Lodge has been razed to make way for new development, the owner has preserved the historic "East Wing" so it may be incorporated into the project. A partial building permit and plans are in place so the next phase of construction can commence immediately.
According to Steven Stunda, the local managing partner of the current owner, “With virtually all entitlements, permits and other pre-construction work completed, a new owner may consider this a ‘turn key’ condominium hotel project.”
HVS Capital Corp expects to issue introductory information about the project immediately, with the complete offering package made available to qualified bidders in the beginning of November.
HVS Capital Corp specializes in asset acquisition & disposition, the placement of debt and equity financing, and capital advisory services.