News: Front Section
Posted: May 27, 2008
Wason Associates Hospitality handles Cyr's $13 million sale to Lafayette Hotels
Wason Associates Hospitality Real Estate Brokerage Group has brokered the sale of the Nordic Village Luxury Mountain Getaways in the Mount Washington Valley. The property sold for $13 million.
The sale includes:
*The office building on the east side of Rte. 16.
*Furnished individual condo units in the Nordic Village condo development.
*Recreational facilities.
*Nordic Highlands Condos, a development that includes 10 units in three buildings, with a total of 30 break-out rental units.
*The Chateau at Highland Ridge, which consists of two buildings each with four separate rental units.
*The lodging rental operation of Nordic Village Resort.
Owner/developer Robert Cyr, who created the Nordic Village, sold the property to Danny and Carla Lafayette of Lafayette Hotels.
Earle Wason, president of Wason Associates, oversaw the transaction with assistance from the Wason team; Peter Annon, CPA; Joe Cardillo, broker associate; and Wendy Casey. Financing was provided by Northway Bank and Machias Savings Bank.
"There are 132 units there at Nordic Village, Danny bought 33 of them with a total 74 rental units he bought from Cyr. The rental program offers 130 units for rent. There are 170 rentals in total. Every unit has a view down the valley," said Wason.
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