WASHINGTON, June 8, 2017 /PRNewswire/ -- Northridge
Capital, LLC, owner of the Sky Hotel in Aspen, Colorado, in partnership with local
developer Sarpa Development, is pleased to announce that it closed
last month on construction financing for its redevelopment of
the property, prominently located at the base of Aspen Mountain in the heart of town, obtained
construction permits from the City of
Aspen, and broke ground on the project on Friday, May 26. Northridge selected Marriott
International's W Hotels as operator for the new hotel and
residences last year. An entity owned by one or more funds
managed, directly or indirectly, by Fortress Investment Group LLC
(NYSE: FIG) is providing construction financing, and Haselden
Construction of Denver is the
general contractor.
W Aspen and The Sky
Residences at W Aspen, which
is slated to open for the 2018-19 winter ski season, will be the
first alpine escape in North
America from W Hotels Worldwide.
W Aspen is being designed by
the award-winning firms of Rowland+Broughton Architecture of Aspen
and Nemaworkshop of New York City,
in partnership with W's in-house design team. Locally inspired,
this modern-day mountain chalet will celebrate the spirit of Aspen,
offering 88 guestrooms, including six suites, and 11 W-branded
fractional residences. An oversized split-level Living Room,
the brand's alternative to the staid hotel lobby, reimagines the
traditional hotel dining scene with a modern approach to dynamic
cocktails and cuisine. To complete the experience of this
incomparable location, the hotel will feature a 1,600 square foot
outdoor patio and a 12,000 square foot rooftop bar and pool,
overlooking Aspen Mountain and
creating the ultimate experience for après-ski and warm-weather
events.
A full-service ski shop will provide guests with equipment
rentals and storage capabilities, while an 1,100 square foot
FIT®, the W brand's modern gym concept, will aid
travellers in staying in shape on and off the slopes. With more
than 1,600 square feet of event and meeting space, W Aspen is sure to become an attraction for
spectacular events and high energy meetings at the base of
Aspen Mountain.
The Sky Residences at W
Aspen will also provide a unique opportunity to call
both W and Aspen home. The Sky Residences at W Aspen will offer the marketplace the newest
ski-in residential inventory, boasting the first slope side address
in downtown Aspen since the opening of the Residences at The Little
Nell.
The Sky Residences at W Aspen
will be a unique offering of only 11 fractional residences. Each
Residence is located on the third or fourth floors of W Aspen, with commanding views of Aspen Mountain and the Aspen area. Owners will
enjoy all the services and amenities of the W Aspen and will also have their own private
rooftop deck with a pool and gathering areas.
About Northridge Capital, LLC
Northridge Capital, LLC, is an independent real estate asset
private equity firm that has invested since its founding in 1997 in
nearly 50 assets on behalf of its investors, with a combined
acquisition value of approximately $1
billion. Based in Washington,
D.C., the company focuses on generating superior
risk-adjusted returns for international high net-worth individuals
and institutions. It acquires, manages, and sells real estate
assets across a wide variety of property types and geographic
areas. For more information, visit www.northridgecapital.com.
About Fortress Investment Group
Fortress Investment Group LLC (NYSE: FIG) is a leading, highly
diversified global investment firm with $70.2 billion in assets under management as of
March 31, 2017. Founded in 1998,
Fortress manages assets on behalf of over 1,800 institutional
clients and private investors worldwide across a range of credit
and real estate, private equity and traditional asset management
strategies. For more information, visit www.fortress.com.
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SOURCE Northridge Capital, LLC