Fairmont Tamarack first phase sells out

Fairmont Tamarack, a joint venture development between Andre Agassi and Stefanie Graf’s Agassi Graf Development and Bayview Financial, L.P.‘s Real Estate Investment Group
has released its first 125 pre-construction units, selling out in fewer than seven hours. Fairmont Tamarack is planning a second release in
late summer prior to breaking ground in late fall or early winter of this
year. Upon its expected completion in 2010, Fairmont Tamarack will mark the
first luxury hotel flag in the state of Idaho and will seek to be only the
fifth five-star property in a United States mountain resort.
  The sales event marked yet another milestone in the growth of the
blossoming Tamarack Resort, an all-seasons jewel in Idaho located just 90
miles north of Boise (Sun Valley is 160 miles east of Boise). Prior to the
Fairmont Tamarack sales event, Tamarack Resort had six consecutive real
estate sell outs dating back to January 2004. Between January 2004 and
April 2006, 531 properties have been sold ranging from condominium units to
single-family chalet and cottage dwellings to estate homes and lots.
  The success of the resort and its real estate has surprised many,
particularly in the current market, but as Lynn Wiener, a buyer in the
first release, commented, “I’ve watched the development of other resorts
like Vail, Beaver Creek and Telluride and realized the opportunity to
become involved in a young resort so early on doesn’t come around very
often.” In fact, Tamarack Resort is considered the first master planned
all-season resort developed in more than 23 years. Andre Agassi, standing
in front of his buyers at an event on Saturday night echoed a similar
sentiment, “It’s not often at this stage of your life that you have the
chance to truly do something for the first time. All of us, including
Stefanie and me, are playing a vital role in shaping the personality and
culture of this young community at Tamarack, and this is something we
should all be very proud of and excited about.”