ASPEN, CO-Boston-based Alcion Ventures LP, in conjunction withGolub & Co. of Chicago and Aspen based operating partner, BaldMountain Development LLC, has recently purchased a 2.4-acre parcelof land on South Aspen Street in Aspen, Colorado. The acquisitionof the land site was made in collaboration with the former ownerCenturion Partners for $15 million.

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The property is currently entitled for 14 luxury townhomes and17 affordable housing units. The partnership iscurrently reviewing all development options including the viabilityof continuing with the previous owner’s plans for a120,000-square-foot five-star luxury hotel project.

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“Aspen is a unique and durable resort market and we pursued thisparcel for several years before purchasing it at distressed pricingduring its foreclosure. The property is the last major developmentparcel up against the mountain and we look forward to working withlocal constituents to have a lasting positive impact,” says MarkPotter, co-founder of Alcion.

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The collective team is working with the Aspen City CommunityDevelopment staff in finalizing its plans for the site. Golub &Co. has been active in Aspen and Snowmass for decades.

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“Our deep history in this region, combined with our 15-yearrelationship with Alcion principals, makes this opportunity a greatfit,” says Michael Newman, president and CEO of Golub &Co. “We look forward to working with our partners and theAspen community to create a vibrant and dynamic development.”

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Martin Zieff, co-founder of Alcion points out that “Alcion has athesis driven investment approach, and once Mark and I decided tofocus our attention on the resort segment of the real estateindustry, we quickly realized that Aspen was a unique place wherewe found multiple drivers of demand, constraints on supply andpricing power.” He adds that “Since launching our search for asuitable investment more than a decade ago, we have reviewed orcontrolled almost every major parcel in downtown Aspen. With BaldMountain, we undertook the development of the Hyatt Grand Aspen in2000. We believe the Aspen Street land parcel will present uswith an opportunity to produce superior risk adjusted returns.”

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.