Victory Ranch Has New Owner

Posted by Erik Asarian on Friday, May 11th, 2012 at 12:43pm.

Park City Golf Development 'Victory Ranch' Sold

A Chicago based developer just closed on their acquisition of the Victory Ranch development from Wells Fargo Bank.

This is a significant development in the Park City real estate marketplace.  We have been watching this with keen interest.  

Victory Ranch offers some of the best private Fly Fishing in the Park City area, and the river, combined with the spectacular golf course, will provide Victory Ranch property owners with an enviable package of lifestyle amenities!

The following article is an excerpt from the Salt Lake Tribune...

Chicago-based firm buys Utah's Victory Ranch development

| The Salt Lake Tribune

A luxury home development that spans almost 6,500 acres near Park City has changed hands.

Sterling Bay Companies, a Chicago-based real estate investment and development firm founded in 1986, purchased the Victory Ranch Club development last week from an affiliate of Wells Fargo Bank for an undisclosed amount.

Victory Ranch stretches across Summit and Wasatch ccounties and affords panoramic mountain views of the Wasatch and Uinta mountains, Deer Valley ski resort, the Provo River and Jordanelle Reservoir.

The development has approvals for more than 650 units. The new owners, though, are considering building fewer.

"We are excited at the opportunity to further improve what we believe to be the most beautiful piece of property in Utah," said Andy Gloor, a principal at Sterling Bay.

The development is home to the private Rees Jones championship golf course, Victory Ranch Club, which opens for rounds this Saturday.

Details of the sale have not been released, but we believe that long-term this is good news for existing and future Victory Ranch owners.  At nearby Promontory, the neighorhood saw over 100 home and lot sales very quickly after Promontory emerged from bankruptcy in 2010.  

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