Centerbridge Unit Snaps Up Ski Resort Time-Share Property

Law360, New York (May 4, 2012, 4:33 PM EDT) -- Private equity firm Centerbridge Capital Partners LP has acquired a completed but unsold condominium development in Park City, Utah, from an undisclosed seller, a Centerbridge asset management subsidiary said Friday.

Lantern Asset Management LLC said it will provide management services for the 83-room ski-side resort in Park City on behalf of Centerbridge. Lantern, a Centerbridge subsidiary, plans to convert the property from a condo project to a branded time-share resort over the summer.

Financial details of the transaction were not disclosed, and a spokeswoman for Centerbridge...
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