Carbondale, CO (September 1, 2014) — Timbers Resorts (“Timbers”), a leading developer and operator of luxury boutique resorts and residence clubs worldwide, announced today that funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leading global alternative investment management firm, have made an equity investment in Timbers. As a result of the investment, Oaktree will become a majority shareholder of Timbers. Additionally, John Brady, Global Head of Real Estate for Oaktree, and David Burden, Founder and CEO of Timbers, will be co-chairmen of Timbers with Burden serving as executive chairman.
“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,” said Burden. “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 Resorts is an outstanding owner and operator of high-end resorts and private residence clubs,” said Brady. “We are excited to partner with the company’s leadership team and grow the business. We look forward to helping Timbers expand its footprint and further establish its reputation as a premier luxury residential resort operator and marketing organization.”
About Timbers Resorts:
Timbers Resorts is the developer and operator of a collection of properties in over 14 of the world’s most diverse high-end destinations. A portfolio known as the Timbers Collection, destinations include boutique, private resorts, hotels and residence clubs in ski, golf, leisure and beach locations.Since 1999, Timbers Resorts has been committed to being authentic, unique and respectful of the destination, focusing on family and experiences, and never compromising with regard to quality and service. Owners at properties in the Timbers Collection are granted an ownership experience with expanded benefits through a host of travel and lifestyle partners such as Sentient Jet, Hertz and more, as well as access to the Timbers Reciprocity Program and the ability to trade vacation time with other destinations in the portfolio. Current Timbers Collection properties can be found in Napa, Tuscany, Aspen, Steamboat, Vail, Cabo San Lucas, Maui, Sonoma, Scottsdale, among other locations. For more info, please visit www.timbersresorts.com, www.facebook.com/timbersresorts, www.twitter.com/timbersresorts and www.pinterest.com/timbersresorts.
About Oaktree Capital Management:
Oaktree is a leader among global investment managers specializing in alternative investments, with $91.1 billion in assets under management as of June 30, 2014. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 850 employees and offices in 16 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.
PRESS RELEASE SOURCE: Timbers Resorts
Media Contacts: Ashley King
Murphy O’Brien Public Relations