Skyline Secures Loan to Acquire Intrawest’s Blue Mountain Interests

Toronto-based Integrated Asset Management and its private corporate debt group, Integrated Private Debt Corp., have closed a $15 million senior loan with Skyline Blue Mountain Village Inc. The funds raised by Skyline will be used to assist with its acquisition from Intrawest ULC of retail property located within Ontario’s Blue Mountain Resort Village. Intrawest has been a portfolio company of U.S. private equity firm Fortress Investment Group since 2006.

PRESS RELEASE

Integrated Asset Management Corp. (“IAM”) (TSX:IAM) and its private corporate debt group, Integrated Private Debt Corp. (“IPD”), announce the closing on April 15, 2013 of a $15 million senior loan to Skyline Blue Mountain Village Inc. (“Skyline”).

The capital raised by Skyline will be used to assist with the acquisition from Intrawest ULC of retail property located within Blue Mountain Resort Village.

Skyline is owned by Skyline International Development Inc., a private Canadian investment and management company incorporated in 1998, specializing in the purchase, renovation and development of Ontario-based development and destination communities as well as hotels and resorts. Its portfolio includes Deerhurst Resort in Huntsville, ON, Horseshoe Valley Resort in Barrie, ON, as well as The King Edward Hotel, Cosmopolitan Hotel and Pantages Hotel, all located in Toronto, ON.

Philip Robson, President of IPD said, “We welcome this opportunity to provide Skyline with long term fixed rate financing. IPD is pleased to have been invited by Skyline to assist it with the acquisition of assets within the Blue Mountain Resort, Ontario’s biggest ski and golf resort. We are especially pleased to include Skyline in our portfolio, recognizing it to be one of Canada’s leading creators of lifestyle-enhancing environments and experiences.”

IPD manages and provides funding from the $1.1 billion Integrated Private Debt Fund LPs on behalf of a number of Canadian pension funds and other institutional investors. IPD offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, acquisitions, plant expansion or modernization, project financing and management buyouts.
IAM is one of Canada’s leading alternative asset management companies, with approximately $1.9 billion in assets and committed capital under management in private corporate debt, real estate, managed futures, private equity and retail alternative investments.
Contact Information
Integrated Private Debt Corp.
Michael LeClair
Managing Director
416-367-9627
mleclair@iamgroup.ca

Integrated Private Debt Corp.
Philip S. Robson
President
416-367-3972
probson@iamgroup.ca
www.iamgroup.ca

Photo courtesy of Shutterstock.