BRIAN HEAD, UTAH—New York City-based real estate investorZohar Cohen through his ownership entityCohen Braffits Estates Development, LLC, haspurchased the $60 million first mortgage on a 2,600-acreBraffits Mountain property. The note was purchasedprior to year end, 2013. In addition, the Cohen Brian HeadDevelopment, LLC has purchased Grand Lodge atBrian Head, a luxury ski resort. The purchase price forthe properties totaled approximately $100 million.That transaction has recently closed.
The assets are being managed by Arthur Levine, special counseland advisor to Cohen, along with Kenneth Denos an executive of thepublicly traded firm, Equus Total Return.
The current resort facility, valued at more than $30million, opened in 2010 and includes a 4 starluxury hotel, gourmet steakhouse and extensive dining andbar facilities.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
