Equilibrium Resorts has bought the Divide Ranch & Club golf course facility on Log Hill Mesa.
The lifestyle resort communities company, based in Dillon, announced in a press release last week that it has moved from management to an ownership position by acquiring all the assets to the golf course.
Seller Gary Tharaldson retains ownership in the real estate inventory of the subdivision, which originated in 1994 as Fairway Pines, as Ouray County’s first recreational planned unit development. The PUD allowed developers to create and sell more than 400 lots smaller than six acres around a golf course on Log Hill Mesa.
H.T. Heritage Inn of Erie LLC, a Philadelphia-based corporation led by Tharaldson, bought the Fairway Pines project in June 2006 for a reported $15 million from Fairway Pines Golf Partners Ltd., Pines Development Group LLC, James A. Willey, and the James A. Willey Living Trust.
The project was re-named Divide Ranch & Club in 2007 and a new clubhouse overlooking the golf course, primarily for use by residents of the development, opened in 2008.
Paul Stashick, founder and CEO of Equilibrium Resorts, said the solid membership base, minimal debt on the property and the opportunity to leverage Equilibrium Resorts’ years of experience in the resort business made the purchase a good fit for the company.
“We look forward to continuing to enhance programming at the Divide Ranch & Club and making it the premier club in the southwestern Colorado,” said Stashick. “The focus of these programs are the cornerstones of our company’s vision: lifelong learning, self-actualization, wellness and relationships.”
Equilibrium also announced that the Divide Ranch & Club will be offering an Invitational Gold Membership for a limited time, which includes unlimited golf privileges, fly fishing, Nordic skiing and snowshoeing, 4x4 excursions, guided hikes and cooking classes with clubhouse chef Steve Poland. The membership includes all fees associated with golf cart rental, range balls and discounts at the pro shop.
The 18-hole golf course, which opened to the public in 1993, has a championship rating and received the “Best Places to Play” award numerous times from Golf Digest magazine.
— Special to The Ridgway Sun
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