Granby Prentice Granby Holdings sent a letter to the roughly 800 owners of the property at the 5,000-acre Grand County ski and golf resort explaining it is terminating a 15-year deal with them.
A new owner is taking the reins at Granby Ranch, but the mayhem continues for the beleaguered ski and golf community.
Following a complicated foreclosure sale, the new owner of Granby Ranch — Granby Prentice Granby Holdings — sent a letter early Wednesday to the roughly 800 owners of property at the 5,000-acre Grand County resort explaining that the company was terminating a 2005 deal that had the owners paying $10,000 each to eventually take control of the ski area and golf course.
The Granby Prentice group, which shares the same address and registered agent as California real estate investment firm Pacific Coast Capital Partners, acquired about 340 parcels in Granby Ranch, including all the ski and golf resort assets in what it described in the letter as “the complex foreclosure of five deeds of trust.” Those five deeds involve promissory notes between lenders and former Granby Ranch owner Marise Cipriani. Cipriani borrowed more than $62 million since 2005 to fund her failed 25-year dream of more than 4,000 homes in a year-round destination resort.