Orrick Herrington Aids REIT In Ritz Property Buy

Law360, New York (December 8, 2011, 3:32 PM EST) -- Real estate investment firm JMA Ventures LLC has purchased a group of 17 finished and 50 semi-completed luxury residential cabins at the newly expanded Northstar California resort from The Ritz-Carlton Development Co. Inc. for an undisclosed sum, JMA said Thursday.

Ritz-Carlton built the mountain homes at Vail Resorts Management Co.'s Northstar California Resort in 2009, creating a “ski-in, ski-out” residential property with direct access to more than 3,000 acres of award-winning slopes, as part of a broader, $300 million resort development.

JMA plans to make the...
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