Credit Suisse seizes control of Tamarack Resort properties

zkyle@idahostatesman.comMarch 12, 2014 

Credit Suisse, the major creditor of the incomplete resort, applied a total of $80 million in credit to gain control of three properties at a series of sheriff’s auctions on Monday.

It started with the biggest chunk of the resort, which includes the ski area, for $65 million in credit.

Credit Suisse also gained control of a chunk of platted but undeveloped land, as well as rights to the ski area and the lease agreement with the state for a $10 million credit bid. Last, the bank bought the property of the barely started Lake Wing addition to the Lodge at Osprey Meadows with a $5 million bid.

The bank had already gained control of 15 Trillium homes in a previous auction.

The largest piece the bank doesn’t control is the undeveloped Tamarack shopping and residential plaza.

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