A group of Coloradan investors led by the principal of Brue Capital Partners, Chad Brue, disclosed that they have purchased Adam’s Mountain Country Club and Adam’s Rib Ranch golf-community property in the Brush Creek Valley near Eagle.
The Brue Capital Partners group also includes Dan Bennett of Vail, the owner of Southwest Greens of Colorado, according to an announcement made after the sale of March 20th.
The purchase includes over 2,500 acres of land, a functioning 1,500 acre ranch, a 16,000 square foot golf maintenance facility, a stunning 18-hole golf course designed by Tom Weiskopf, as well as an expansive 40,000 square foot clubhouse with tennis courts and an Olympic-sized pool. The community also features many existing cottages and homes, as well as over 90 finished lots.
“We are absolutely thrilled to become stewards of the storied Adam’s Rib development and Adam’s Mountain Country Club. There aren’t many properties in the world with the beauty of the Brush Creek Valley, the proximity to world-class ski resorts, summer recreation and the magnificent lifestyle choices that Adam’s Rib offers. Add the extraordinary assets that Adam’s Rib has in place and an increasingly robust real estate market, and we feel that we are poised for a bright future,” Brue said in an article published in bizjournals.com on March 30, 2015.
The original owner of the property, Fred Kummer of St. Louis, began development of the property in 1973 with the intention of creating a major ski resort. However, after decades of failed attempts to advance the project, Kummer switched his focus to golf and community development.
Eric Roth and Martin Roth, the first vice presidents in the CBRE’s Land Services Group, along with Jeff Woolson, the present executive vice president of CBRE Group Inc. and managing director of the Golf & Resort Group, represented Kummer and HBE Corp. in the deal. Meriwether Cos manages Brue Capital.
The community country club plans to open for the season on May 2nd, while membership and real estate sales will likely soon follow.
Michael Bain is an analyst for New Home Source.