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News release

VICTORIA, British Columbia

Bear Mountain Offers Rare Development Potential in British Columbia

JLL retained as exclusive advisor to engage in a review of strategic options for urban resort community


​JLL today announced that it has been retained on behalf of ECOASIS to complete a strategic review of Bear Mountain that could result in a sale or business combination of some or all of its assets. This review gives investors the opportunity to acquire a world-class residential development project and resort community in British Columbia.​

Senior Vice Presidents Jon Ramscar, Mark Sparrow and Luke Scheer are leading the JLL team on the review, working closely with Asia's CEO of JLL, Anthony Couse and Managing Director of JLL's Hotels & Hospitality Group, Gilda Perez-Alvarado.

"Bear Mountain represents a rare opportunity to acquire a world class development project of significant scale with over 772 acres of irreplaceable land embedded in Canada's finest urban resort community," said Ramscar. "It represents one of the largest active development opportunities in Canada, with existing zoning and infrastructure in place for immediate development."

"Situated in the heart of the community is the Westin Bear Mountain Resort, a best-in-class hotel that boasts stunning views of Victoria's inner harbour, the Olympic Mountains and two outstanding Nicklaus Design Championship golf courses, home of the PGA Champions Tour Pacific Links Bear Mountain Championship," said Sparrow. "The Victoria lodging market fundamentals were incredibly strong through 2016, with the Westin Bear Mountain ranked #1 of the 143 properties in the Americas. Investors are confident that it will continue to thrive."

"Working with JLL has helped us uncover valuable insights about the current real estate landscape in Canada and will help us evaluate future opportunities," said Dan Matthews, President and CEO of ECOASIS. "The satisfaction of our employees, residents and visitors will remain our top priority throughout this review."

Bear Mountain spans over 772 acres of land embedded in an existing community of over 3,000 residents, growing to 10,000 in the coming years. The community includes two world class Nicklaus Design Championship golf courses, a Westin hotel, a full-service fitness center and health spa. Bear Mountain is also home to Golf Canada and Cycling Canada and is currently working with Tennis Canada on the construction of Western Canada's largest indoor/outdoor red clay court tennis facility.

Since its inception, JLL Capital Markets & JLL's Hotels & Hospitality team in Canada have collectively closed over CA$5 billion in hotel & commercial real estate transactions. JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $77.5 billion worldwide. Between negotiating property deals, the group's 350-person global team also closed more than 5,300 advisory, valuation and asset management assignments. To find out more visit: www.jll.com/hospitality

-Ends-

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

About Ecoasis

Ecoasis specializes in land acquisition and development of residential and resort real estate; signature properties that we enhance for the benefit of stakeholders and the surrounding communities. Our current geographical focus includes Hawaii, Whistler, and Victoria, BC. By partnering our talented team with the most experienced architects, engineering firms, construction companies, and consultants, we create high quality, sustainable communities that provide lasting value. www.ecoasis.com

About Bear Mountain

Situated in the foothills of Mount Finlayson with breathtaking views of Victoria's seaside harbour, Bear Mountain Resort offers the best of both worlds: an idyllic natural setting located only minutes from the allure of the province's charming capital city. In a spot that only nature could have conceived, Bear Mountain Resort is a rugged and verdant mountainside landscape with vistas of the Olympic Mountain range, the Strait of Georgia and the Strait of Juan de Fuca. The resort features two world-renowned Nicklaus Design golf courses and at the heart of the village, a Westin hotel. Countless visitors have been drawn to Bear Mountain for its superlative golf only to discover the resort's equally stellar accommodations, residential offerings, dining venues and recreational opportunities. Bear Mountain is the official high performance training centre for Cycling Canada's national mountain bike team and the official Canadian training centre for Golf Canada's National Development Squads. www.bearmountain.ca