Bear Mountain’s lands and assets have been court-ordered to sell, and the listing is now live for prospective buyers to purchase a nearly fully-realized community and resort.
The sale doesn’t just include all the lands owned by Bear Mountain, Ecoasis and any other subsidiaries, it also includes the golf courses, tennis facilities and over 300 acres of property.
Bear Mountain officially went into receivership in September of last year because they owed over $62 million to a partner in the development, who had not received any payment since July 2023.
It is this receivership that triggered the sale of the property and assets.
Parties interested in buying Bear Mountain will now have up until September 16th to file a letter of intent.
In this, they will have to make an offer on the property and show how they plan to secure the money needed to buy Bear Mountain.
A final bid will then begin for those who qualify. The property should be sold by November if all goes to plan.
“Bear Mountain is one of British Columbia’s most recognized resort communities—an established, master-planned destination where over 70% of the original vision has already come to life,” reads a media release announcing the property’s sale.
“Anchored by a vibrant residential base, two championship golf courses, and a Westin resort, Bear Mountain has grown into a premier lifestyle address just minutes from Downtown Victoria.”
Though much of Bear Mountain’s development is complete, there is still much to do and whoever acquires this property will be able to do what they wish with the remaining lands.
