Oaktree takes majority shareholding in Timbers Resorts

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US: Oaktree Capital Management has become the majority shareholder in developer and operator Timbers Resorts.

US: Oaktree Capital Management has become the majority shareholder in developer and operator Timbers Resorts.

Oaktree made an equity investment of an undisclosed amount, and the deal will see John Brady, global head of real estate for Oaktree Capital Management and David Burden, founder and CEO of Timbers Resorts, become co-chairmen of Timbers, with Burden serving as executive chairman.

Burden said: “With the addition of capital from Oaktree, we have the financial flexibility to broaden the Timbers Resorts portfolio by increasing our front row destinations and building upon our track record of success in high-end locations. Oaktree’s experience and reputation as a thoughtful investor supports our business model and we are pleased to partner with the firm. We will also be better equipped to financially partner with other investment organizations on transactions where Timbers’ expertise can add value.”

Timbers is the developer and operator of 14 resorts, hotels and private residence clubs, including Castello di Casole in Tuscany, Rancho Valencia in California and Dancing Bear in Aspen.

www.timbersresorts.com
www.oaktreecapital.com

 

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