Image courtesy of Wason Associates.

A North Conway resort has been sold to a collection of investors for $8.5 million.  

The Fox Ridge Resort at 1979 White Mountain Highway was sold on Jan. 24, according to documents filed at the Carroll County Registry of Deeds.  

Wason Associates Hospitality Real Estate Brokerage Group brokered the deal. A purchase price was not disclosed in Wason’s statement announcing the sale, but public documents list the real estate transfer tax as $127,000, making the purchase price $8.5 million.  

The buyers are listed in public documents as five New Hampshire LLCs and one New York state LLC, whose registered agents largely share the same last name. Chhavi Hospitality LLC holds the largest share of the property at 50 percent. The new owners have engaged Lexington, Massachusetts-based Jamsan Hotel Management Co. to run the property, according to a statement. Its vice president for development, Ashok Patel, is the developer of a Home2Suites hotel near the Mountain Valley Mall, the Conway Daily Sun reports. 

The 138-room hotel, situated on 30 acres, has run seasonally in recent years following a 1993 fire that prevented it from opening in the winter. Its new owners plan to invest $3 million in the property, according to Wason’s statement. 

“It was a pleasure to facilitate the successful transaction of the Fox Ridge Resort,” Earle Wason, president of Wason Associates, said in a statement. “We are always thrilled to partner with parties that plan to invest in the property and continue contributing to the rich hospitality market in scenic northern New Hampshire.”