June 10, 2020 Significant upgrades to Saddleback Mountain, the ski resort in Rangeley, remain on track despite the pandemic. Boston-based Arctaris Impact Fund LP bought Saddleback in January, paying $6.5 million for its 6,400 acres, including the ski trails and buildings. Arctaris subsequently launched a multiyear $38 million upgrade of the resort, which is Maine’s third-largest ski area. The resort has been closed since 2015. Upgrades include a high-speed detachable quad chairlift, redesign of the lodge, expansion of the snowmaking system and the addition of mountain bike and fat bike trails.
Date
Related News
KeyBank Community Development Makes Strategic Investment in ...
BOSTON--(BUSINESS WIRE)--Arctaris Impact Fund, LP (“Fund”), the flagship debt fund of Arctaris Impact Investors, LLC (“Arctaris”), has obtain...
Arctaris Impact Investors Completes Additional Growth Equity...
BALTIMORE & BOSTON--(BUSINESS WIRE)--Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a follow-on growth equity investment ...
Arctaris Impact Awarded $30M of New Markets Tax Credit Alloc...
BOSTON--(BUSINESS WIRE)--Arctaris Impact CDE, LLC was awarded $30M of New Markets Tax Credit Allocation (NMTC) by U.S. Treasury’s Community Develop...