Timbers Resorts, a Carbondale, CO-based developer and operator of luxury boutique resorts and residence clubs worldwide, received an equity investment from funds managed by Oaktree Capital Management, L.P.
As a result of the investment, Oaktree will become a majority shareholder of Timbers. Additionally, John Brady, Global Head of Real Estate for Oaktree, and David Burden, Founder and CEO of Timbers, will be co-chairmen of Timbers with Burden serving as executive chairman.
The company intends to use the funds to expand its operations.
Founded in 1999, Timbers Resorts develops and operates a collection of properties including boutique, private resorts, hotels and residence clubs in ski, golf, leisure and beach locations.
Current properties can be found in Napa, Tuscany, Aspen, Steamboat, Vail, Cabo San Lucas, Maui, Sonoma, Scottsdale, among other locations.