STOWE, Vermont ??вЂќ Skiershop Mountain Sports announced it completed the real estate purchase of 580 Mountain Road, Stowe, VT for the purchase price of $760,000.00. The real estate closing complements the Skiershop’s previous acquisition of Mountain Sports and Bike and www.bikestowe.com.
“We are especially thrilled to have closed on this prime real estate in anticipation of great appreciation,” said Skiershop President Bobbie Roehm.
The State of Vermont recently required the town of Stowe to appraise all taxable property at fair market value, revealing that “on average property values have doubled, and vacant land values have tripled,” since 1996 according to the Stowe Reporter.
Skiershop Mountain Sports previously signed a letter of intent to be acquired by Prime Rate Investors (OTC.PK: PRRM), the multi-media holding company with interests in outdoor sports, and parent company of Stockli Ski USA, Stowe TV-10, Adirondack TV-33, High Angle Media, and N’east Magazine.
“We are excited about the resources and relationships that Prime Rate Investors brings to Skiershop Mountain Sports. With its infrastructure, support and cross-marketing opportunities we will be able to maximize visibility and sales potential,” said Roehm.