Oaktree Capital Management has become the majority shareholder in Timbers Resorts via an equity investment of an undisclosed amount.
Additionally, John Brady, global head of real estate for Oaktree Capital Management, Los Angeles, and David Burden, founder and CEO of Timbers Resorts, Carbondale, Colorado, 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,” Burden said. “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 is the developer and operator of 14 properties that include resorts, hotels and residence clubs.