
| Property Name: | The Lodge & Spa at Cordillera |
| Location: | Edwards, Colorado (west of Vail Valley) |
| Description: | The Lodge & Spa at Cordillera, situated in Edwards, Colorado, near Vail Valley, offers the rare opportunity to enhance the value of a prized asset. In addition to acquiring the existing property, the Fund purchased 23.2 acres of developable land adjacent to the resort. Our improvement strategy will be to increase the aesthetic appeal of the existing structure and construct dual-key units to boost overall room capacity and generate increased revenue at this prime ski location. Property Highlights: The resort has received the AAA Four Diamond Award for 15 consecutive years and was named one of the top North American resorts by Conde Nast Traveler in 2003 and 2004. Guest room views are of the New York Mountain Range and Game Creek Bowl. |
| Year Built: | 1988, expanded in 1997 |
| Asset Size: | 8.3-acre development with 56-room resort, 20,000-square-foot spa, and developable land that totals 23.2 acres |
| Transaction Date: | June 2007 |


