EquiTrust USA, a Maryland real estate investment trust, has acquired 100 per cent of the ownership and assets of Cataloochee Holdings, Cataloochee Commons and Cataloochee Hospitality.
EquiTrust USA has also made several additions to its development and construction team, including bringing on national firm Jones Lang Lasalle, who will manage retail leasing and property management, A&E firm Clark, Patterson and Lee who will oversee civil and traffic engineering, and contractors Whiting-Turner and Anderson/Perini to manage construction of the Cataloochee Commons and The Lodge during Phase One of the development build-out.
The companies join project design and management firm UDG, who developed the original master plan for the Cataloochee Wilderness Resort. UDG also has been selected as the architects for each of the Phase One building components.
EquiTrust USA foresees a multi-phase, multi-year development timeframe to complete the USD14 billion lifestyle resort and retail complex, which will lie adjacent to Interstate 40 west of Asheville and contiguous with the Great Smoky Mountains National Park.
Now having acquired these three Cataloochee companies, EquiTrust USA will pursue the development of Cataloochee Wilderness Resort according to the master plan. EquiTrust USA’s forward-looking vision for the project also includes acquiring and managing other entertainment and hospitality properties in the area, to provide resort amenities, such as a golf course and entertainment venues.