Fortress Investment May Sell Whistler Blackcomb Shares in IPO, Globe Says

Fortress Investment Group LLC may sell shares in an initial public offering of Whistler Blackcomb, a ski venue for the 2010 Winter Olympics, the Globe and Mail reported, citing unidentified people.

The New York-based investment firm has hired bankers to explore options for the Canadian resort north of Vancouver, the newspaper said. A filing with regulators ahead of a share sale is expected soon, the Globe said.

Fortress may also sell the resort, although potential buyers including businessman Murray Edwards and the Ontario Teachers’ Pension Plan have already passed on the opportunity, the newspaper said.

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net.

A sale of Whistler Blackcomb may have an influence on the Whistler real estate market.  Exciting news can spur market activity.  With snow covering the upper tips of the mountains now and talk of the coming ski season, this may be the right time for Fortress to try a sale of the Resort's Whistler and Blackcomb Mountains.