First Offering Sold Out - Revelstoke Mountain Resort Sparks International Buying Interest



    REVELSTOKE, BC, April 2 /CNW/ - In just three hours, the first real
estate offering of the upcoming Revelstoke Mountain Resort was snapped up by
buyers from across Canada, the U.S. and Europe.
    In order to meet the unprecedented demand from buyers on the floor,
Revelstoke Mountain Resort was able to release a second building, which was
not anticipated to hit the market until fall of 2007.
    By the end of the day, over 80 percent of the second building was sold,
totaling the sale of over $60 million dollars in pre-construction real estate,
marking a new day for the mountain community and a clear indication that
Revelstoke is poised to be North America's most impressive new mountain
resort.
    Sotheby's International Realty Canada expects the few remaining homes to
be sold before the end of the week. More than 4,000 registrants have flooded
the sales team over the past two months. "We anticipated the response to the
first real estate offering would be large, but the demand has exceeded even
our highest expectations," commented Ross McCredie, President and CEO of
Sotheby's International Realty Canada. "Clearly, these buyers understand the
future value of this resort, and its place among the most unique mountain
playgrounds in the world."
    Revelstoke Mountain Resort developer Don Simpson, Chairman of Simpson
Property Group Canada, said he is thrilled - but not surprised - by the
response to Nelsen Lodge from Canadian and international investors. "I've been
skiing in this area for years and it really is truly incredible. Soon we will
be able to offer ski in, ski out real estate at the base of North America's
longest skiable vertical." Simpson is based in Denver, Colorado and develops
multi-family properties throughout the US. Simpson partnered with Hunter
Milborne and Robert Powadiuk from Toronto, Ontario to develop the resort.
    He noted that Revelstoke will be North America's premier one-stop shop
for skiers of all levels. World class heli-skiing, cat and lift skiing are all
accessible from the new village.
    Nelsen Lodge, named in honor of famed Revelstoke ski jumping champion
Nels Nelsen, is at the base of what will be North America's longest vertical
descent, 6,000 feet, and just steps away from the anticipated Village
Heli-Centre that provides access to 500,000 acres of the world renowned
Selkirk Tangiers Heli Skiing terrain, which will be owned and managed by
Revelstoke Mountain Resort.
    The majority of homes - 56 percent - were bought by U.S. buyers. Among
them were Derek and Wendi Pajet, who drove to Revelstoke from Donelley, Idaho
to make sure they got the 1-bedroom condo they wanted.
    "We like the quality and the real estate opportunity that Revelstoke has
to offer," Pajet said. "It has exactly what we want for a second home. The
development is above and beyond what we were expecting, from the size of the
mountain to the convenience of the Heli-Centre. It is far superior to anywhere
else we have visited."
    Sotheby's McCredie said the quality of the architecture and construction
of Nelsen Lodge sets it apart from other ski resort developments. "Most of the
ski product out there is stick frame and straight lines," he said. "We
describe Nelsen Lodge as 'Concrete and Curves.'"

    Sotheby's International Realty Canada is the nations leading marketer of
luxury real estate. The company and its clients enjoy exclusive access to
their global network of discriminating clients, recently opening sales offices
across Canada in addition to marketing over five billion in new luxury
developments including; the Four Seasons Private Residences Toronto, The
Private Residences at Hotel Georgia, and a host of luxury residential and
recreational new properties. Sotheby's International Realty Canada is
headquartered in Vancouver, British Columbia and is located on the World Wide
Web at http://www.sothebysrealty.ca.

    Revelstoke Mountain Resort is located just minutes from downtown
Revelstoke, B.C. (population 8,500) and only hours from international gateway
cities like Vancouver (631 km), Kelowna (199 km) and Calgary (413 km).
Additional information about the resort and registration for upcoming real
estate opportunities is available at www.discoverrevelstoke.com.

    High resolution photos are available upon request.





For further information:

For further information: Media Contact - Pamela Groberman, Pamela
Groberman Media & Public Relations Inc., Pam@pamelagroberman.com, (604)
644-1064

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REVELSTOKE MOUNTAIN RESORT

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